When selling a property, what is a seller's primary responsibility regarding disclosures?

The seller's primary responsibility regarding disclosures when selling a property is to disclose all known defects. This obligation stems from the principle of transparency in real estate transactions, where the seller must inform potential buyers about any issues or defects that could affect the property's value or habitability. This includes structural problems, plumbing or electrical issues, water damage, and any other factors that might pose a risk or require substantial repair.

Disclosing known defects protects buyers and allows them to make informed decisions about their purchase. This fundamental requirement not only helps foster trust between the parties involved but also complies with legal obligations in many jurisdictions. Failing to disclose known defects can lead to liability for sellers if issues arise after the sale.

In contrast, while providing financial disclosures and ensuring the property is appraised may be part of the overall transaction process, they do not fall under the seller's primary responsibility regarding disclosures. Additionally, guaranteeing buyer financing is not within the seller’s responsibilities, as financing is typically handled independently between the buyer and lender.