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Many people can agree that when it comes to paperwork, thorough research and knowledge will be our best friend. When deciding to sell your home through the for sale by owner method in Texas, you will be running into a lot of documents. The Seller Disclosure Requirements in Texas are documents deemed to be legal requirements that a seller acquires to make closing deals faster.
An ample amount of paperwork will be done as soon as you have decided to sell your home using the for sale by owner method. You will be needing these documents to complete the process of selling your home. Although, a real estate attorney will also become one of your credible sources for information, however, still an optional choice.
Here are the Seller Disclosure Requirements in Texas that you should be aware of:
- Federal Disclosure of Information on Lead-based Paint and/or Lead-based Paint Hazards
- Seller Disclosure Notice (TXR 1406)
- Fire Alarm Installation Certificate
Did you know Houzeo’s Gold Plan includes Federal and State seller disclosures?
Federal Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards
As required by Federal Law, a seller in Texas, whose home was constructed before 1978 shall provide an Addendum For Seller’s Disclosure of Information on Lead-based Paint and Lead-based Paint Hazard As Required by Federal Law. It is a seller’s duty to notify interested buyers that lead may possibly exist in the residential dwelling. The risk of lead poisoning to children and pregnant women is extremely high therefore, the need for this addendum.
Furthermore, providing information on lead-based paint and lead-based paint hazards will help the potential buyer further assess their interest with the residential real estate property. Aside from that, this law also gives the buyer the right to conduct a lead-based paint inspection in a span of 10 days. This will give the buyer enough time to come to a concrete decision before becoming obligated under the contract however, this addendum is not required for homes built on and later than 1978.
Seller Disclosure Notice
In line with Section 5.008 of the Texas Property Code, disclosing any defects and/or damages in a Seller Disclosure Notice that the seller is aware of is part of real estate transactions. This also helps both parties proceed with caution and avoid any kind of law enforcement throughout the entire real estate transaction. In Texas, there are two Seller Disclosure Notice you can use and are readily available to the public online.
- Texas Association of Realtors
- Texas Real Estate Commission
Although there isn’t a huge difference between the two sets of notices, most sellers in Texas usually use the Texas Association of Realtors’ Seller Disclosure Notice. The Seller Disclosure Notice provides information that ranges from appliances and systems in the property, current defects, past insurance claims, past inspection reports to other necessary conditions of the property. It is still a seller’s task to thoroughly explain and state every defect and issue that comes with the property.
Again, this will solely be based on what the seller knows about the home. After all, the Seller Disclosure Notice from both the Texas Association of Realtors and the Texas Real Estate Commission basically looks like a checklist of things that mainly concerns the property on sale. Know that the Seller Disclosure Notice mentioned above comprises of different sections. This would make things easier for the seller to state what they know about the property.
The following information that a seller is required to disclose as part of Texas’ Seller Disclosure Requirements are:
- Hazards
- Homeowners association information
- Financial health
- Repairs
- Water damage
- Missing items
- Others
- Active termites or other wood-eating insects
- Pending litigation
- Zoning
- Changes made without permits
- Boundary disputes
- Eastment
Since the information within the Seller’s Disclosure Notice only requires an updated and detailed information within the knowledge of the seller, this will not require an inspection. Filling the Seller’s Disclosure Notice according to what you know helps interested buyers. Aside from that, this makes it easier to know which of your potential buyers are truly interested.
There is also information that a seller knows but not part of what information the law requires to be disclosed. In fact, the Seller Disclosure Notice only contains information related to the property. A seller may choose to or choose not to disclose information that isn’t related to the property that either happened within or near the property.
The following information that a seller isn’t required to disclose as part of Texas’ Seller Disclosure Requirements are:
- Suicide or murder in the property
- A sex offender living nearby
- Haunted property
- Anyone who lived in the property that has AIDS or HIV
Moreover, the information stated above isn’t completely useless. The seller can either warn the interested buyer or keep the information to himself. Either way, no legal actions can be taken in the event the information remains withheld.
Fire Alarm Installation Certificate
As an attempt to create a safer home, Sec. 766.002 of Texas’ Health and Safety Code Title 9 Subtitle A Chapter 766 Subchapter A states that smoke detectors should be installed in accordance with local building codes. Many sellers wouldn’t know about this since most sellers aren’t knowledgeable about construction standards.
The information and format of the Fire Alarm Installation Certificate must be determined by the state fire marshal. Furthermore, this will only be available after a thorough installation inspection of the residential dwelling. However, only a licensed fire alarm technician performs the necessary inspections. The licensed fire alarm technician assesses whether or not the fire alarm installation follows Texas’ local building codes.
Selling A Home in Texas
Some sellers are afraid to sell their home on their own, without the help of a real estate agent. However, going through the process of selling your home on your own as for sale by owner, you might need the help of the top FSBO websites. In addition to providing your home with a great amount of marketing and advertising, these websites are sure to guide you through the whole process.
There are homes for sale in Texas that could compete in your market. Although selling a home is a challenging task, there are various ways that make it bearable. Even in San Antonio, the disclosure form and other necessary documents you need are easier to acquire compared to that in other states in the United States. Texas’ Seller Disclosure Requirements are important documents that any seller should take lightly.
Thus, for a smoother and faster real estate transaction, your disclosure statement should contain facts and detailed information that helps make the sale progress faster. However, those who are not legally or mentally capable of selling your home, a court order should be acquired first. The sale price also creates a buzz among potential buyers especially after knowing about the condition of the property.
Note: This is only a quick guide for sellers in Texas. When selling a home, it’s also best to seek legal advice from experts. However, doing research also comes in handy to gain more information regarding this matter.
Did you know Houzeo’s Gold Plan includes Federal and State seller disclosures?
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