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.
Presently it is not required by Tennessee state law. Even though there is no disclosure law in Tennessee, the Tennessee Association of Realtors and the Greater Nashville Association of Realtors, Inc., encourage their members to recommend full disclosure to their clients. In this day and age, people are more and more turning to the courts to settle property disputes. In this case, if the seller has not disclosed all the relevant facts about the property before the property is sold, the real estate agent, the seller, and the buyer could all find themselves wrapped up in time-consuming court proceedings. A major benefit to the seller of property is that full disclosure can become a sales tool, providing an advantage over sellers of comparable property.