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R.I. REAL ESTATE SALES DISCLOSURE FORM RHODE ISLAND ASSOCIATION OF REALTORS DATE PROPERTY ADDRESS STRUCTURE SELLER Current Address Seller has occupied subject property? Yes No If yes, number of years

How to fill out seller39s property disclosure

How to fill out seller's property disclosure:

1. Start by obtaining the appropriate form. The seller's property disclosure form can typically be found online or through your real estate agent.
2. Carefully read through the entire form, ensuring that you understand each section and question.
3. Begin by providing general information about the property, such as the address, legal description, and any homeowner association details if applicable.
4. Proceed to answer specific questions regarding the property's physical condition, including the age and condition of various systems and components such as the roof, plumbing, electrical, and HVAC.
5. Be honest and thorough in your responses. It is essential to disclose any known issues or defects accurately.
6. Consider attaching additional documentation or reports that may provide more detailed information about the property's condition, such as inspection reports or repair records.
7. Review your answers carefully before signing and dating the seller's property disclosure form.
8. Keep a copy of the completed form for your records.

Who needs seller's property disclosure?

1. Sellers: It is essential for sellers to provide a property disclosure to potential buyers. This document is used to inform buyers about the property's condition, potential hazards, and any known issues.
2. Buyers: The seller's property disclosure is crucial for buyers as it allows them to make informed decisions about purchasing a property. It provides insight into the condition of the property and helps buyers identify any potential issues they may need to address in the future.
3. Real Estate Agents: Real estate agents play a vital role in facilitating the buying and selling process. They need the seller's property disclosure to accurately represent and market the property to potential buyers.
4. Lenders and Insurers: Lenders and insurers may require the seller's property disclosure to assess the property's condition and determine if it meets their lending or insurance criteria.

Overall, the seller's property disclosure is a crucial document that benefits both sellers and buyers, as well as other parties involved in the real estate transaction. It helps ensure transparency and protects all parties involved from potential legal issues related to property condition.

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What is seller's property disclosure?

Seller's property disclosure is a document that the seller of real estate must fill out to inform the buyer of any known issues or defects with the property.

Who is required to file seller's property disclosure?

The seller of real estate is required to file seller's property disclosure.

How to fill out seller's property disclosure?

To fill out seller's property disclosure, the seller must answer all questions honestly and thoroughly, providing information about the property's condition and any known issues.

What is the purpose of seller's property disclosure?

The purpose of seller's property disclosure is to protect the buyer by providing them with important information about the property before they make a purchase.

What information must be reported on seller's property disclosure?

The seller must report any known issues or defects with the property, as well as information about the property's history and any renovations or additions.