The Texas Real Estate Commission has released an updated Seller’s Disclosure Notice for mandatory use Sept. 1.
It’s available for voluntary use immediately.
As of Sept. 1, 2019, the new Seller’s Disclosure Notice has questions in paragraphs 6, 7 and 8 relative to floodplains, and includes definitions of the various categories according to FEMA. In addition, questions about previous claims for flood damage or assistance from FEMA or SBA are also included.
The notice must also disclose a seller’s knowledge of water damage not due to a flood event and requires a seller to disclose whether a prior flood-related insurance claim was filed with an insurance provider or the seller received aid from FEMA.