Sellers benefit because it makes it less likely that something may be overlooked that they would be liable for at a later date. For buyers, full disclosure ensures that all the facts concerning the property's value are told at the point of sale.
Disclosure can also speed up the sale, which benefits everyone.
One useful tool is the use of a standardized disclosure form, something that provides direction for the seller's consideration of the property. The seller has a thorough knowledge of the home and is in a position to disclose any defects a real estate agent or property inspector might miss. The form also provides a checklist of items that buyers should investigate. A disclosure form is something you should ask your real estate agent about whether you are the seller or the buyer. Full disclosure is required in some states.