In short, you have not disclosed anything by merely telling the buyer in person. The buyer could always deny the fact that they were told anything. You, as seller, will need to research the existing disclosure requirements in your state so that you are aware of every required disclosure and you know where to get the appropriate disclosure forms. Often the library will have a business section that will contain the information you need. However you get the information, make sure that you absolutely refuse to withhold any material fact from the buyer.
Consumer awareness is at an all time high.
Buyers are well aware of their rights of disclosure. In the event they move into the house and find an item that should have been disclosed, but wasn't, you can expect to be paying for this mistake dearly. When all other steps have been completed, and after instruction by both buyer and seller, the escrow holder will prepare all final documents for subsequent signing. This sign-off phase is the final step requiring participation by the parties. Once the final instructions and all other documentation are signed, and after all funds are in the hands of the escrow holder, the title to the property will be transferred to the buyer.