What document provided by the seller describes the condition of the property?

NetherCraft 0

6 Answers

  • Disclosure agreement. Many states require this doc.

  • The Seller’s Disclosure, but he is under no obligation to provide it.

  • The seller is normally required to provide a disclosure to the seller. The extent of this disclosure vary from state to state.

    If the water is currently working the seller would or might not know of a broken pipe under the house, This would not be disclosed. This could have been a problem for the duration of the seller residing in the property.

    The seller might not be aware of foundation damage or problems, again this would not be disclosed.

    The seller is only able to disclose what they are aware of.

    I hope this has been of some benefit to you, good luck.

    “FIGHT ON”

    Even if you are provided a disclosure statement by the seller, it is popular now to hire an inspector that would provide you information about the flaws and items that might need attention, prior to you purchasing the property.

  • The Sellers Disclosure. The seller has the option not to fill out a disclosure and instead give you a disclaimer which essentially says they don’t know, or refuse to state the condition of the property.

    If the seller gives you a disclaimer and is the actual owner living there (not a bank that foreclosed on the house and legitimately knows nothing about the condition) then this is a huge red flag that there may be some major problems with the house that they are hoping you will not learn about.

  • The property disclosure statement.

  • Seller’s disclosure

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