Things You Must Disclose to Buyers When Selling Your Home

1. Known vs. Unknown Issues
   Sellers are responsible for providing accurate information about their home to buyers. They must be truthful in their disclosures, but they are only required to answer questions based on what they know. For instance, if a seller has lived in a home for only a few years, they may not have complete knowledge of its condition, which is why some disclosure forms allow sellers to indicate they are unsure about specific details.

2. Obvious vs. Hidden Defects
   Sellers should distinguish between defects that are visible and those that may be hidden. Obvious issues, known as patent defects, are typically noticed during showings or inspections. On the other hand, hidden problems, called latent defects, may not be immediately apparent and could include serious issues like mold or toxic substances. Sellers must disclose all known latent defects, even if they are not visible to the buyer.

3. Repair History
   Homeowners often need to make repairs, such as fixing mold or water damage. It's important for sellers to maintain records of these repairs and share them with potential buyers. Having documentation that shows the problem was properly addressed can reassure buyers and help avoid complications during the selling process.

4. Disclosure Forms
   While not all provinces require specific disclosure forms, sellers may be asked to complete documents like the Seller Property Information Statement or Property Condition Disclosure. Sellers should consult with their real estate agent to determine which forms are necessary for their property and region. Accurate answers on these forms are crucial since they can impact the seller’s liability.

5. Buyer and Seller Responsibilities
   Sellers are legally obligated to answer any questions from buyers truthfully, whether those questions are asked directly or appear on a disclosure form. Buyers, in turn, are responsible for investigating the property’s condition, typically through a home inspection. If serious defects are found later, buyers may take legal action, but they must prove the seller was aware of the issues and failed to disclose them.

By understanding these responsibilities, sellers can ensure a smoother home-selling process and minimize potential issues.