A Brief Explanation of Disclosure vs. Non-Disclosure States

In the world of real estate, information is gold! This is especially true when it comes to a property’s purchase price. The publication of this information depends on whether it is located in a disclosure or non-disclosure state.

There are currently 12 non-disclosure states in the United States. This means that the purchase price of a property is never published on the public record. But what does this mean for real estate professionals and investors?

It means they’re operating in the dark regarding valuing the property when they list it or make an offer. They could overvalue or undervalue the property during a sale and have no record to match the previous price.

Disclosure vs. Non-Disclosure States

There are supporters for both sides of the disclosure vs. non-disclosure state laws when it comes to publicly recording a property’s purchase price.

The Argument for Disclosure States

Disclosure states allow the public to research how much a property was sold for. This means government records and offices can have access to this information and share it.

Knowing the previous value of a property as a homebuyer or investor can help them decide how much to offer to purchase it. They can confidently make an offer knowing that they are not overvaluing the property for what it’s actually worth.

A quick search on the public record can help them find a base number for where to start their offer and negotiations in the current real estate market.

The Argument for Non-Disclosure States

Non-disclosure states do not allow government offices to publish the sale price of a property. Many people believe it infringes on the right to privacy when this information is made available to the public.

However, that doesn’t mean this information isn’t possible to find in other ways. It simply makes it a bit more difficult than if you were located in a disclosure state. Private programs like Haines can help real estate agents and investors find information on mortgages, HELOC’s, etc.

What States are Non-Disclosure States?

As of 2024, there are 12 states that have non-disclosure laws.

These states are:

• Alaska
• Idaho
• Kansas
• Missouri
• Mississippi
• Louisiana
• Utah
• Texas
• North Dakota
• New Mexico
• Montana

All other states not on this list are disclosure states.

How to Find Property Information in a Non-Disclosure State

As previously mentioned, it is not illegal to obtain information about a property’s purchase price or value in non-disclosure states. You simply cannot go to the public record to find it.

Instead, you can use private software and record programs to find information about real estate, properties, and homeowners. This is especially beneficial to real estate professionals looking to purchase or sell properties in non-disclosure states.

Get property value information and more in just a click with Haines lead generation software to grow your real estate business and portfolio. Contact us for a free demo today!

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