It offers a small degree of protection for the buyer....

Up here we have a form called an SPIS (Seller Property Information Statement) which would be similar to your Disclosure forms.  In this article, we are warned NOT to have our Sellers complete it (and their lawyers advise the same).   When acting for Buyers, I do request it in the offer but only to protect myself.  Read article here:  http://www.slaw.ca/2012/11/06/selling-your-home-you-and-your-agent-better-be-careful-of-what-you-say-or-dont-say/

It's the law in my state along with the other disclosures of lead paint, radon & mold.

Seller disclosures protect the customer/client.

In our state in some transactions the seller must provide a sellers disclosure.  In addition common law would make it necessary for a seller to disclose any and all known defects to the property even if state law did not require a disclosure.

CYA ... a big giant load of paperwork conjured up by lawyers in order to CYA

The seller must disclose all items on the home to the buyer so that the buyer can make an informed decision.

We have a sellers property disclosure where the seller can tell buyers what they know about the house. It's not a mandatory form, but it does give buyers an idea about the house. A home inspection is still important, because some sellers don't know everything about their house, or they may have forgotten some details. 

So they can get the information before they go into a binded contract. 

The name of the game is CYA, and it is the law.

Let's the seller tell the buyer anything of importance that is not readily visible to an inspector or the buyer.

disclose disclose disclose that is why.

In Florida the duty to disclose is the law, the duty to put it in writing is not required.

I recently went under contract for a property which I made subject to inspections etc. AND sellers disclosure.  ListAgent said that there was no need to fill one out because the seller had not lived there and knew nothing...

Give me a break!  I do not live in my rental properties but I know exactly what the problems are because tenants complain and I pay the repairs.

I insisted, and the seller did fill out the seller's disclosure...bless him.  Seller knew all sorts of stuff that the agents for sure did not bother to disclose or told us a contrary story about.

Sellers disclosures are necessary for full disclosure.

Eve

This will vary by jurisdiction.   In California, seller's disclosures are a part of a real estate transaction but the duty of the seller to disclose can vary based on the type of transaction.   

Disclosures give an indication of a property's condition but should not be used in place of a buyer's personal and professional investigation, inspecton and general common sense of the property condition as well as the surrounding neighborhood.   As I tell my buyer clients -- some sellers are very aware and in tune with their home/neighborhood while others seem to have little or no knowledge.   

In my opinion. If the seller accurately fills out the seller disclosure statement it gives the buyer some pre-inspection data about the property and "may" save them the cost of paying for an inspection. What I mean by that is that they may see something on the disclosure they don't like and reject the disclosure and decide to terminate right there - thus saving the inspection costs. In no way should a buyer count on the seller disclosure to tell them everything "wrong" with a home but there may be something on it that tells them something they don't like before the inspection is done.

Seller must disclose latent defects pursuant to Florida law.

They create the foundation for a buyer to sue everyone involved in the transaction. They set the basis that require the seller to prove WHAT THEY DO NOT KNOW. That is an impossible situation.

In many locations the permitting process is so extensive a buyer can see all they need to know in public records.

Sellers should sell houses in the same manner banks sell the houses they stole.

Buyer needs to do their due diligence. Hold their inspectors accountable.

Unfortunately, that is NOT the prevailing practice and sellers are forced into the path of peril by real estate agents who do not know how to protect them.

There are mandatory disclosures in CA for many types of residential real estate transactions which provide information for buyers about the condition of the home

Check Lemon Law on carsand its disclosure packages.

When large amounts of money and goods changes hands, everyone wants to see and know what they are getting into and out of. Agents police this

In many states a seller's disclosure is the law. Regardless, it provides some knowledge for a buyer about the condition of the home upfront.

They offer some protection for the purchasers.