Well, this is tricky. The Tennessee Residential Property Condition Disclosure (TRPCD), which in Tennessee is a required document when entering into a Purchase Contract, must disclose all material defects and problems with the house you are selling. However, this form covers only residential real property (homes), not vacant land. And, you have not mentioned whether you are selling a home or vacant land. So, briefly because of lack of space, let’s look at each situation.
If you are selling your home, you must fill out the TRPCD and answer the questions in good faith. The form is signed by the seller attesting to its truthfulness, and a copy is given to the buyer who is also required to sign. Concerning the noise that nearby explosions may create, this is what the form asks… “Is the Seller aware of any neighborhood noise problems or other nuisance?” I believe we know the answer to that. The TRPCD is filled out by the seller, and it is the seller that is held legally responsible for its truthfulness, if the buyer believes they have been lied to. Also, keep in mind that by law a Realtor is required to disclose to all parties adverse facts of which the licensee has actual knowledge or notice. Now, is there a question on the form about neighboring campgrounds? The answer is no. If the campground being developed is a few miles away, this may not be something that needs to be disclosed. However, if the campground will be visible from the home, or across the street, or at the entrance of your subdivision, then I would disclose it. Some buyers may not wish to deal with the additional vehicle traffic a campground would bring or what they may perceive as an eye sore.
Now, let’s talk about vacant land. The TRPCD is not required on land transactions. However, material defects concerning the land, such as flood risks, sewer issues, sinkholes, for example, must be disclosed. A campground and a neighboring rock quarry is up for debate. Would I still disclose it? Yes, I would. A buyer is buying the land to probably build a home. The issues discussed may impact their decision as to whether they wish to live there or not. I know no one wants to lose a sale, but would you rather lose a sale or be dealing with a lawsuit? I would verbally disclose all, and in the actual Purchase and Sale Agreement also disclose it in writing. I hope this provides some guidance and if you have any additional questions please contact us.
