When it comes to buying a home, the buyer's emotional side can play a more active role than their good business sense. Buyers often avoid the difficult questions that should be asked early in the process. Fortunately, robust disclosure packages are normally presented by the seller before an offer is even considered. This information can be carefully previewed by the buyer before an offer is made.

Most purchase contracts provide buyers with a due diligence period where they can hire a company to determine the overall home condition. Even in the case of a really good inspector, some problems are just not easy to find.

This is why I applaud the use of mandatory seller disclosure forms in real estate transactions. These forms are often routinely used by brokers. These forms will often cover important environmental problems, such as dirty drinking water, leaking oil tanks, radon and more. The seller must state whether problems exist and provide copies of recent reports. Disclosure forms never replace a buyer's due diligence inspection, however.

While disclosure forms may provide buyers with legal protection, they do the same for sellers. A seller who fully discloses does not have to worry about an allegation that something was withheld should a problem develop after the sale. They provide a clear way for buyers and sellers to learn about and comprehend key issues relating to an important transaction. In any event, the best course of action is for both sellers (prior to marketing the property) and buyers (as a contingency or condition of completing the sale) to independently choose qualified, reputable inspectors.