Disclosure statements

[dwford]

On the disclosure statement you have to disclose known flaws. As a seller, if you suspect a flaw, are you obligated to find out, or can you legitimately say you don't know?

Example: if you open a wall and expose of insulation, are you obligated to find out if it contains asbestos? Or old paint, do you have to get it tested for lead, or do you just paint over it?

For flaws you fix, how detailed an explanation do you give?

[dealmaker]

It's probably a matter that varies by state. AFAIK you're NOT obligated to test for lead based paint, or asbestos. Unless it's something that I know because I've replaced it, A/C, roof, other major systems, I just check the box marked "unknown".

dealmaker

[Aldo]

.....disclose known flaws
That means exactly what it says with the key word being 'known'. I've not heard of anywhere that requires a seller to perform a test for defects unless it is requested by a buyer. The disclosure form asks for first-hand knowledge of whatever) and you are expected to answer based on what you know to be true. Lead-Based Paint is a classic example. I have pre-1978 properties which I'm sure have LBP, but I have no first-hand knowledge of its existence and I reply accordingly. It's critically important, though, that you do not attempt to conceal a defect.