In other words, liability protection. In theory, property disclosures are a great idea, but state-mandated forms may not ask the right questions, the questions may be literally unanswerable, and owners may be wholly unqualified to respond. I am not among those who believe that buyer abuse should be a marketplace reality or that caveat emptor is a fair standard for real estate dealings. And yet it is fair to say that the marketplace has changed since state-written seller disclosure forms were introduced. For instance, professional home inspections are both common and widely available.
Buyer brokers are available nationwide.
The use of limited home warranties is widespread. I have grudgingly and with considerable reservation come to the conclusion that the time has come to dump mandated seller disclosure statements. Seller disclosure statements provide assurance where none is earned. They are incomplete at best, misleading at worst. Most disturbingly, buyers may see them as a cheap way to avoid a home inspection.