What must be disclosed regarding any known hazards when selling a property?

When selling a property, it is crucial to disclose all known hazards to potential buyers because this is a fundamental aspect of ethical real estate practices and legal obligations. Sellers are responsible for ensuring that buyers have all the information they need to make informed decisions about the property. This includes any known environmental hazards, structural issues, or other risks that could affect the safety or usability of the property.

Failure to disclose these hazards can lead to legal complications for the seller, including potential lawsuits or claims of misrepresentation. By providing full transparency about any known issues, sellers not only comply with legal requirements but also foster trust and integrity in the transaction process.

Disclosing all known hazards protects buyers and enhances the overall reputation of the real estate market. It establishes a standard of honesty and accountability, which is essential for maintaining positive relations between buyers, sellers, and agents.