Under what condition must a seller provide property disclosures?

A seller is generally required to provide property disclosures when they have known issues with the property. This obligation is rooted in the principle of full disclosure within real estate transactions, which serves to protect buyers from unexpected defects or problems they may encounter after purchase. Texas law specifically requires sellers to disclose any material defects in the property's condition, known as "material defects," which include significant issues like structural damage, plumbing problems, or any conditions that may affect the habitability or value of the property.

This requirement is meant to foster transparency and build trust between the seller and the buyer, allowing prospective buyers to make informed decisions regarding their purchase. If a seller is aware of such issues but fails to disclose them, they may be held liable for misrepresentation or fraud in the event of a dispute after the sale.

In contrast, the other options do not accurately capture the conditions under which property disclosures are mandated. For instance, the price of the property or whether a buyer requests disclosures does not exempt sellers from their duty to disclose known defects. Similarly, just because a sale takes place in the open market does not inherently trigger disclosure obligations without the context of known issues.