What should a REALTOR prepare a seller to disclose to buyers?

Disclosing problems with the property is essential in real estate transactions. This obligation falls under the principle of honesty and transparency, which is crucial in fostering trust between parties. In many jurisdictions, including New Brunswick, REALTORS are required to inform buyers about any known issues that could affect the property's value, habitability, or safety. These disclosures can include structural defects, pest infestations, environmental hazards, or any other significant issues that could impact the buyer's decision-making process.

When buyers are aware of any existing problems, they can make informed choices regarding their purchase and may adjust their offer or seek repairs before proceeding. Such transparency minimizes the risk of legal disputes after the sale and protects both the buyer's and seller's interests.

The other choices do not align with the obligations of disclosure in real estate transactions. For example, future profits from the sale may be speculative and are not a guaranteed or relevant disclosure. Personal details about the seller are usually unnecessary for the buyer to know and could infringe on privacy concerns. Competing offers may be protected information, and disclosing them could violate confidentiality and ethical standards in the industry.