What is the primary purpose of property disclosure forms?

The primary purpose of property disclosure forms is to inform potential buyers of any known issues with the property. These forms are critical in the real estate transaction process because they provide transparency about the condition of the home and any potential defects or concerns that could affect the buyer's decision-making process. By disclosing known problems, sellers meet legal obligations and help protect themselves from future liability regarding undisclosed issues. This transparency fosters trust in the transaction, as buyers can make informed decisions based on the information provided about the property.

Other options, while relevant in the real estate context, do not capture the essence of what property disclosure forms are fundamentally designed to achieve. Estimating a selling price and outlining mortgage details are separate aspects of the buying process that involve market analysis and financing considerations, respectively. Similarly, listing selling points is more focused on marketing the property rather than ensuring that buyers are fully aware of its condition.