If you’re new to real estate but you’re dedicated to finding the perfect home, you will likely encounter the term “disclosure”.
The term “disclosure” kind of sounds scary, but isn’t necessarily – disclosures come in a variety of forms (often as a disclosure document) can inform you of items that could potentially affect the value of (both positively and negatively) the home, and can serve as a disclosure toward other knowledge of the property.
According to Brendon Desimone’s Zillow Porchlight blog, “5 Things You Need to Know About Real Estate Disclosures”, sellers may disclose work or renovations, but these improvements should be documented with permit and zoning to ensure they’ve been done correctly and up to code.
Desimone also writes that a seller should also disclose any defects with the property (pests, property line disputes, defects or problems with appliances, etc).
Be warned: a disclosure by the seller doesn't take the place of an inspection - it's just what the seller knows about the property.
Want to know more about disclosures? Check out Desimone's blog.
Source: http://www.zillow.com/blog/real-estate-disclosures-62807/