What level of disclosure do I have to make when selling real estate?

When selling real estate in South Carolina, sellers must disclose certain material facts about their property. The Real Estate License Law (REL) requires sellers to provide buyers with written notice of any known defects with the property. This includes structural defects, as well as any known environmental hazards. In addition to the REL, the South Carolina Unfair Trade Practices Act (SCUTPA) requires disclosure of any material facts that might influence a buyer’s decision to purchase the property. This includes information such as a prior power outage, the presence of any pests, previous flooding or water damage, and any neighborhood nuisances such as noise from other properties. Sellers have a responsibility to make full disclosures about their property. Failure to do so can result in costly court proceedings and potential fines. It is important to note that all disclosures must be accurate and in writing. It is also important to note that disclosure requirements can vary depending on the type of property. Therefore, it is best to consult a real estate attorney if there are any questions about disclosure requirements.

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What level of disclosure do I have to make when selling real estate?

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