As a seller, the law requires you to disclose information regarding your property to a buyer that would affect their decision to buy the property. Failing to do so can result in law suits, contract annulments, or monetary compensation to the buyer. It is for this reason that disclosing information is a very important step in the buying and selling process.
In order to be in compliance with the law make sure you disclose information regarding:
In general if you are not sure what to disclose it is a great idea to talk with an attorney or find a disclosure form online. Also you can hire an inspector, and if the necessary repair isn't very costly you can fix it yourself before putting the house on the market.