As a seller you are required by law to complete a seller's disclosure report and provide it for the buyer before they make an offer. You must fill this out and not your agent, but your agent can provide guidance on how to fill it out.
In a seller's disclosure you will notify the buyer of any known problems with the property. This includes, but is not limited to:
Your agent can help you learn about the specific disclosure laws in your area as they vary greatly from state to state and municipality to municipality. For example, in California you must disclose if anyone has died on the property, for any reason, in the past three years.
Every seller must also provide a disclosure on lead-based paint if the home was built before 1978. This will also give the buyer 10 days to perform a lead-based paint inspection.
When in doubt, put it in the disclosure. This can protect you from future liability and most disclosure forms exist because of previous lawsuits. You may find that most buyers do not mind getting a little bad news about your home, but they will be justifiably angry about nasty surprises later.
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