Disclosure

Disclosure refers to 2 areas in the real estate field. First it refers to the fact that an agent must tell you that they represent the seller. The seller pays the agent's commission from proceeds from the sale of a house. Agents' loyalties are ultimately with the seller.

The second use of the word disclosure refers to agent and seller bringing any problems with the house or its location to the attention of the buyer. Disclosure can also apply to a seller's or agent's knowledge of plans for the community or the street. Just how much an agent or seller should disclose is still being weighed both in the profession and in the courts. In the end it still boils down to "buyer beware". Ask lots of questions. If the answers seem vague, do some digging of your own until you are satisfied with the information.

If this article did not answer all of your questions about this topic, please call us and a Knecht representative will be happy to explain all the details and legalities that are involved with selling or buying real estate property.

920-921-0396

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Knecht Realty Inc. is located at 7 South Main Street in Fond du Lac, Wisconsin.
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