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Form 17 Seller Disclosure Statement Rev. 6/12 Page 1 of 5 SELLER DISCLOSURE STATEMENT IMPROVED PROPERTY Copyright 2012 Northwest Multiple Listing Service ALL RIGHTS RESERVED SELLER To be used in transfers of improved residential real property including residential dwellings up to four units new construction condominiums not subject to a public offering statement certain timeshares and manufactured and mobile homes. See RCW Chapter 64. 06 and Section 43. 22. 432 for further explanations....

How to fill out seller disclosure statement-improved property

How to Fill Out Seller Disclosure Statement-Improved Property:

1. Begin by gathering all relevant information about the property. This may include documents such as inspection reports, warranties, and any known issues or repairs made.
2. Start with the basic information section. Fill out the property address, date, and the names of all sellers involved in the transaction.
3. Move on to the property details section. This is where you will provide information about the age and condition of major systems such as the roof, HVAC, plumbing, and electrical. Be honest and transparent about any known defects or issues.
4. The next section is for disclosing any known environmental concerns or hazards. This can include lead-based paint, asbestos, mold, or any other relevant information regarding potential health risks.
5. Disclose any past or current structural issues or damages in the structural integrity section. This may include previous repairs or damages caused by natural disasters.
6. If the property is part of a homeowner's association (HOA) or condo association, there will be a specific section to disclose any relevant information about fees, rules, or pending litigation.
7. In the disclosures section, provide information about any past legal disputes, liens, or pending litigation related to the property.
8. Finally, sign and date the document, verifying that all the information provided is true and accurate to the best of your knowledge.

Who Needs Seller Disclosure Statement-Improved Property:

1. Anyone selling a residential property, including single-family homes, condos, townhouses, or duplexes, may need to fill out a seller disclosure statement.
2. Real estate agents or brokers representing the sellers are also typically responsible for ensuring that the disclosure statement is completed accurately and in a timely manner.
3. Depending on the jurisdiction, specific laws or regulations may require disclosure statements for certain types of properties or transactions. It is important to consult with a real estate attorney or local authorities to determine the specific requirements in your area.

Remember, the purpose of the seller disclosure statement is to provide potential buyers with all relevant information about the property, allowing them to make an informed decision. It is crucial to be honest and thorough when filling out this document to avoid any legal issues down the line.

People Also Ask about

Is it bad if there is no sellers disclosure?

If a no seller's disclosure occurs, there will be a due diligence period. During this time, the buyer will thoroughly inspect the property. If the buyer goes through the due diligence and closing process, about 14 days, without raising any concerns, then they're deemed to have waived their rights against the seller.

Is seller disclosure mandatory in Washington state?

Almost all real estate sales in Washington State require a seller disclosure statement to be given to the buyer. Home sales, including condominium units, are included in the types of sales requiring a seller disclosure statement. The statute (RCW 64.06.

What should a disclosure statement include?

Key Takeaways. A disclosure statement is a financial document given to a participant in a transaction explaining key information in plain language. Disclosure statements for retirement plans must clearly spell out who contributes to the plan, contribution limits, penalties, and tax status.

How do you write a disclosure statement?

The statement should: Give details of your offence and the circumstances surrounding it. Highlight what makes you suitable for the role, i,e, your previous skills and experience. Demonstrate how you have moved on or changed since your offence.

Is seller's disclosure mandatory in Texas?

Is a Seller's Disclosure Required in Texas? Yes. Section 5.008 of the Texas Property Code requires anyone selling a single family home to fill out a seller's disclosure. It even has a script you can use to write your disclosure—so you know you've met all the requirements.

What is a disclosure form concerning the property should be completed by the seller?

A Seller's Disclosure is a legal document that requires sellers to provide previously undisclosed details about the property's condition that prospective buyers may find unfavorable. This document is also known as a property disclosure, and it's important for both those buying a house and for those selling a house.

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