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Purpose of Property Disclosures
I saw house in the Sunset Plaza area and the agent said she was disclosing that Paris Hilton owned a house near by. What does that mean?
A seller is required to tell (disclose to) a potential buyer anything they know about the property that could affect its condition, value or desirability.In other words a buyer has recourse if a seller intentionally withholds information from the buyer about the house.With Miss Hilton as a neighbor you might have trouble with paparazzi constantly parking in front of your house or you may get stuck behind the star maps tour bus on your way down the hill, so the seller and their agent are making certain you know before you buy.