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What are disclosures in real estate?

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0 2022-05-20T10:47:15+00:00
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When a property transaction takes place, the seller is required to produce the disclosure document. Since you are here asking about what are disclosures in real estate, let me give you a brief quickly. I will also tell you about its importance.

Want to sell your property fast? List it on NoBroker and find genuine buyers quickly Get assistance in documentation and formalities to sell your property smoothly with NoBroker Seller Assist Plans What does disclosure mean in real estate?

As I said before, a disclosure document is required to be produced by the seller while selling his/her property. This document shows details about the state of the property. It is important for buyers to know the condition of the property beforehand to estimate the property value properly.

In India, disclosure agreement real estate is concerned with the mortgage of commercial property. The RBI dictates that banks should include the disclosure clause where commercial property owners have to disclose the name of the lender with whom the property is mortgaged as per real estate disclosure law.

I hope your knowledge of what are disclosures in real estate is slightly better now.

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