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Definitions of Disclosure

A very important term in both real estate and mortgage transactions. It is required by statute and should not be overlooked. For real estate it means: Disclosing all known facts that materially affect the value of a residential real property and are not readily observable to the buyer. For mortgages it means: Disclosing all known facts that affect your ability to obtain a home loan. In both cases, if your not sure, always disclose. This definition of Disclosure contributed by Gulf Coast Associates.