BLOG SERIES: DISCLOSURES - Things you should know about disclosure notices
Did you realize that there are three different disclosure notices available to Sellers in Texas? The TREC (Texas Real Estate Commission) Seller's Disclosure of Property Condition form essentially provides the minimum amount of information set out in the Texas Property Code. The TAR (Texas Association of Realtors) Seller's Disclosure Notice has additional provisions to increase the information provided to Buyers. Local associations such as the Austin/Central Texas Realty Information Service (ACTRIS) has a disclosure form that adds even more information designed as a risk management tool for Sellers and as an information source for Buyers. Coldwell Banker United, REALTORS recommends that their clients complete the ACTRIS Seller's Disclosure Notice as it offers the best protection and provides a level of trust in the property for Buyers that typically leads to a quicker sale.