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Main Street Property Management, LLC Document updated: August 2012 RESIDENTIAL SELLER ADVISORY WHEN IN DOUBT DISCLOSE! REAL SOLUTIONS. REALTOR SUCCESS Sellers are obligated by law to disclose all

How to fill out property disclosure statement

How to fill out property disclosure statement

1. Read the instructions: Start by thoroughly reading the instructions provided with the property disclosure statement form.
2. Gather all necessary information: Collect all the required information such as property details, past repairs, renovations, and any known issues or defects.
3. Be honest and accurate: Provide truthful and precise information about the property, ensuring that no relevant details are omitted.
4. Include attachments: If there are additional documents or attachments that support the disclosures, make sure to include them along with the completed form.
5. Review and double-check: Before submitting the property disclosure statement, review it carefully to ensure everything is accurate and properly filled out.
6. Seek legal advice if necessary: If you have any doubts or concerns about certain disclosures, consult an attorney or real estate professional for guidance.
7. Submit the form: Once you are confident that the property disclosure statement is correctly filled out, submit it to the appropriate parties involved in the transaction.

Who needs property disclosure statement?

1. Sellers: Property disclosure statements are typically required from sellers when selling a property. It ensures that potential buyers have accurate information about the property's condition and any known issues.
2. Buyers: Buyers may also require a property disclosure statement to be provided by the sellers as part of their due diligence process before making a purchase decision.
3. Real estate agents: Real estate agents involved in the transaction may need the property disclosure statement to assist in advising their clients and ensuring legal compliance.
4. Real estate attorneys: Attorneys representing buyers or sellers may use the property disclosure statement to review the property's condition and advise their clients accordingly.
5. Lenders: Lenders may request a property disclosure statement to assess the property's value and potential risks before approving a mortgage or loan.

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What is property disclosure statement?

The property disclosure statement is a document that provides important information about the condition of a property being sold.

Who is required to file property disclosure statement?

Sellers are typically required to file a property disclosure statement when selling a property.

How to fill out property disclosure statement?

To fill out a property disclosure statement, sellers need to provide accurate information about the property's condition and any known issues.

What is the purpose of property disclosure statement?

The purpose of the property disclosure statement is to inform potential buyers about the condition of the property and any issues that may affect its value or safety.

What information must be reported on property disclosure statement?

Information about the property's condition, any past or present issues, repairs or renovations, and other relevant details must be reported on the property disclosure statement.