If you are selling your home that has been in a flood, do you have to disclose the amount of money you received from the insurance company?
2462 answer(s)
About 4 months ago
Ricardo! What a fantastic question! You absolutely do not have to disclose the amount that was received from the insurance company. However, section 12 of the TAR Promulgated version of the Texas Sellers Disclosure notice does pose the question whether or not proceeds received from an insurance claim were not used for the repairs of your home. Itd be best to properly disclose something of that nature. Feel free to reach out anytime! Codysellsproperty@gmail.com 346-412-6603
Like
DislikeAbout 5 months ago
You have to disclose the home flooded and if the home is in a floodplain. In the Sellers Disclosure form you will ad the details of the event and actions that were taken. You don't have to disclose the amount of funds you received from insurance. I attached a link to the Sellers Disclosure
source:
https://www.trec.texas.gov/sites/default/files/pdf-forms/55-0.pdf
https://www.trec.texas.gov/sites/default/files/pdf-forms/55-0.pdf
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
Advertisement
1 answer
Saved
