Today's Dilbert has a hilariously accurate summary of real estate disclosures. When we bought our current house it was, to put it nicely, a fixer-upper. The fence was falling down and rotted out, there was visible water damage in three rooms, visible mold in two rooms, the gates to the side yard didn't work properly, some doors had holes in them, electrical wiring was improperly done, junk was everywhere (including the four sheds in the backyard), one window was cracked, screens were missing from multiple windows, there were problems with the roof, the garage door didn't close properly ... you get the idea (no, that's not everything). Our initial request for repairs totaled more than $20,000.
What had the sellers disclosed in the sales contract? That we'd need to contact the security company to turn the alarm on. According to the disclosure, everything else was OK.
Thank goodness for property inspectors.