Get the free PROPERTY CONDITION DISCLOSURE STATEMENT PURSUANT TO NY REAL

Distributed as a courtesy by Page 1 of 6 F FIDELITY NATIONAL T TITLE INSURANCE C COMPANY PROPERTY CONDITION DISCLOSURE STATEMENT PURSUANT TO NY REAL PROPERTY LAW ART. 14 462(2) NAME OF SELLER OR SELLERS:

How to fill out property condition disclosure statement

How to Fill Out a Property Condition Disclosure Statement:

1. Begin by collecting all necessary information about the property: This includes details about the structure, any renovations or repairs that have been done, any known defects, and any potential hazards. Make sure to gather this information from reliable sources, such as past maintenance records or inspections.
2. Carefully review the legal requirements and guidelines for your specific jurisdiction: Different locations may have different laws and regulations regarding property condition disclosure statements. Familiarize yourself with these rules to ensure you provide accurate and complete information.
3. Use clear and concise language: When filling out the disclosure statement, use plain and simple language to describe any issues or conditions related to the property. Avoid technical jargon or complicated terminology that may confuse potential buyers.
4. Be thorough and provide detailed information: It's important to include as much information as possible in the disclosure statement. Describe any known defects, repairs or renovations, pest infestations, structural issues, water damage, etc. The more transparent you are about the property's condition, the more confidence buyers will have in their decision.
5. Include any relevant documentation: If you have any supporting documents, such as inspection reports or maintenance records, attach them to the disclosure statement. This can provide additional proof of the property's condition and adds credibility to your disclosure.
6. Certify the disclosure statement: Ensure that you and any co-owners or sellers sign and date the completed disclosure statement. This certifies that the information provided is accurate and complete to the best of your knowledge.

Who needs a Property Condition Disclosure Statement?

1. Homeowners selling their property: Property condition disclosure statements are typically required when selling a residential property. Homeowners must provide this document to potential buyers to disclose any known issues or conditions related to the property.
2. Real estate agents and brokers: Real estate professionals are often involved in the process of completing property condition disclosure statements. They may assist homeowners in gathering the necessary information or review the completed document to ensure compliance with local regulations.
3. Buyers: Potential buyers rely on property condition disclosure statements to make informed decisions about purchasing a property. They use this document to assess any potential risks or expenses associated with the property's condition, which can influence their decision-making process.

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What is property condition disclosure statement?

The property condition disclosure statement is a legal document that details the condition of a property and any known issues or defects.

Who is required to file property condition disclosure statement?

In many states, sellers are required to file a property condition disclosure statement when selling a property.

How to fill out property condition disclosure statement?

To fill out a property condition disclosure statement, the seller must provide accurate and detailed information about the condition of the property, including any known issues or defects.

What is the purpose of property condition disclosure statement?

The purpose of the property condition disclosure statement is to inform potential buyers about the condition of the property and any known issues before they make a purchase.

What information must be reported on property condition disclosure statement?

The property condition disclosure statement typically requires information about the age of the property, any past or present issues with the property, and any repairs or renovations that have been made.