What could happen if a seller fails to provide a property disclosure statement?

When a seller fails to provide a property disclosure statement, the seller may face legal consequences. In Texas, real estate sellers are typically required to disclose known material defects and issues with the property. This requirement helps protect buyers from purchasing a property with undisclosed problems that could affect their decision to buy or the property's value.

If a seller neglects this obligation, they could potentially be held legally accountable for any issues that arise after the transaction that were not disclosed. This could lead to lawsuits from the buyer, claiming misrepresentation or breach of contract, particularly if they encounter significant issues that the seller was aware of but chose to conceal.

Understanding these legal ramifications emphasizes the importance of full transparency in real estate transactions and helps ensure that buyers can make informed decisions about their purchase.