--- title: "Seller's Disclosure Statement: Truth Over Everything" description: "When selling a property, a homeowner has two options in disclosing the \"material facts\" about the property. The seller can disclose what the seller knows about the property or can have the buyer waive the disclosure and buy at the buyer's own risk." --- [Dan's Desk](https://www.gallatin-law.com/blog/author/dan-gallatin) - [lawyer](https://www.gallatin-law.com/blog/tag/lawyer) - [hugo](https://www.gallatin-law.com/blog/tag/hugo) - [MN](https://www.gallatin-law.com/blog/tag/mn) - [law](https://www.gallatin-law.com/blog/tag/law) - [attorney](https://www.gallatin-law.com/blog/tag/attorney) - [legal](https://www.gallatin-law.com/blog/tag/legal) [Subscribe](https://www.gallatin-law.com/blog/sellers-disclosure-statement-truth-over-everything#) 05/15/2019 # Seller's Disclosure Statement: Truth Over Everything - - - - - [mailto:?subject=Seller%27s%20Disclosure%20Statement%3A%20Truth%20Over%20Everything&body=https%3A%2F%2Fwww.gallatin-law.com%2Fblog%2Fsellers-disclosure-statement-truth-over-everything](mailto:?subject=Seller%27s%20Disclosure%20Statement%3A%20Truth%20Over%20Everything&body=https%3A%2F%2Fwww.gallatin-law.com%2Fblog%2Fsellers-disclosure-statement-truth-over-everything) When selling a property, a homeowner has two options in disclosing the "material facts" about the property. The seller can disclose what the seller knows about the property or can have the buyer waive the disclosure and buy at the buyer's own risk. The second option is rarely utilized. The primary reason is nobody will buy a house without being told by the owner what the owner knows about the house. In the seller's disclosure statement a couple of points are notable. First, it requires not just what you experienced yourself with the property, it also requires you to disclose what you know about the property's entire history. Second, you must be candid and honest. If you had water in the basement that you did not consider a problem, or you considered to be a one-time occurrence, or that didn't leave any identified permanent damage, you still must disclose it! Being candid and honest pays off in many ways on a seller's disclosure statement. While there's some chance you'll scare buyers off, you'll also be able to close on a sale and move on forever, knowing you told the buyer everything you knew about the house. The material contained herein is provided for informational purposes only and is not legal advice, nor is it a substitute for obtaining legal advice from an attorney. Each situation is unique, and you should not act or rely on any information contained herein without seeking the advice of an experienced attorney. 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Born in St. Paul, Dan spent many of his formative years growing up there before moving to White Bear Lake. After graduating from White Bear Lake, Dan spent four glorious years at the University of Wisconsin-Madison, earning a degree in two majors. Dan worked as a Senior Investigator at the Minnesota Department of Commerce for several years after graduating from college. During his final years Dan attended William Mitchell College of Law while still working full-time. During this exhausting 3 ½ year period Dan honed his skills in becoming an efficient, to-the-point legal practitioner. While at Madison Dan met his wife, Tonya, and together they moved to Minnesota to plant their roots. Dan and Tonya have two amazing, unique children and reside in Hugo. ### CONNECT WITH ME - ## Related Posts [04/06/2016 Contract for Deed: Some Basics The real estate market is enjoying a very active market. Homes are moving fast and buyers who not prepared to buy will miss out if they are not ready… Read Post ](https://www.gallatin-law.com/blog/contract-for-deed-some-basics) [03/16/2016 Arbitration Agreement in Real Estate Purchase Agreements I have arbitrated many cases related to allegations that a home seller has failed to disclose a material fact in the course of the sale of a home. As… Read Post ](https://www.gallatin-law.com/blog/arbitration-agreement-in-real-estate-purchase-agreements) ### Subscribe Here! ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Dan Gallatin", "url" : "https://www.gallatin-law.com/blog/author/dan-gallatin" }, "dateModified" : "2020-08-21T18:34:50.291Z", "datePublished" : "2019-05-15T05:00:00.000Z", "headline" : "Seller's Disclosure Statement: Truth Over Everything", "mainEntityOfPage" : { "@id" : "https://www.gallatin-law.com/blog/sellers-disclosure-statement-truth-over-everything", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.gallatin-law.com/hubfs/logos/Gallatin-Logo-654x84.png" }, "name" : "Gallatin Law, PLLC" } } ```