All Sellers Disclosures Must be Updated

On September 1st, the a new sellers disclosure went into effect. After a call into the TAR legal hotline, the word is that unless you were under contract prior to September 1st, all listed properties should have the revised sellers disclosure. Here is a report from TAR.

Explanation of Sept. 1, 2011, changes to TAR Seller’s
Disclosure Notice (form 1406)
Through various pieces of legislation, the Texas Legislature made three changes to the
required Seller’s Disclosure Notice. Here are the three additional questions sellers must
answer:
• Whether the property receives liquid propane gas and whether that LP gas is
community (captive) or on property
• Whether the property has a single blockable main drain in pool/hot tub/spa. This
notice must also include a statement that a single blockable main drain may cause
a suction entrapment for an individual
• Whether the property has any rainwater harvesting system connected to the
property’s public water supply that is able to be used for indoor potable purposes
Use of the revised form is mandatory as of Sept. 1, 2011.

Sellers must begin giving the updated notice to buyers Sept. 1; however, you should immediately use the revised notice to avoid having to obtain an updated notice from the seller if the listing does not go under contract before Sept. 1. The updated form is available on TexasRealtors.com and through zipForm.