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Page 1 of 4Property Condition Disclosure Statement Addendum #2Name of Seller or Sellers: Property Address: General Instructions: The Property Condition Disclosure Act requires the Seller of residential
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How to fill out property condition disclosure statement
How to fill out property condition disclosure statement
01
Begin by obtaining the standard property condition disclosure statement form from your local real estate association or a legal professional.
02
Gather all necessary information about the property condition, including any known defects, repairs, or upgrades.
03
Clearly and accurately disclose the condition of various components of the property, such as the roof, foundation, electrical system, plumbing, and appliances.
04
Use a point-by-point format to provide detailed information about the condition of each component. Include any recent inspections or evaluations if available.
05
Be truthful and complete in your disclosures, as failure to disclose known defects can lead to legal consequences.
06
Ensure that the completed disclosure statement is signed and dated by all relevant parties, such as the seller, buyer, and listing agent.
07
Make copies of the completed disclosure statement for your records and provide a copy to the buyer for review and reference.
Who needs property condition disclosure statement?
01
Property condition disclosure statements are typically required in real estate transactions. Therefore, anyone involved in buying or selling real estate properties would need a property condition disclosure statement. This includes both home sellers and home buyers.
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What is property condition disclosure statement?
Property condition disclosure statement is a document that provides information about the condition of a property being sold, including any known issues or defects.
Who is required to file property condition disclosure statement?
Sellers are typically required to file a property condition disclosure statement when selling real estate.
How to fill out property condition disclosure statement?
To fill out the property condition disclosure statement, the seller must provide accurate and complete information about the property's condition, including any known issues or defects.
What is the purpose of property condition disclosure statement?
The purpose of a property condition disclosure statement is to inform potential buyers about the condition of the property so they can make an informed decision about purchasing.
What information must be reported on property condition disclosure statement?
Information that must be reported on a property condition disclosure statement includes any known issues or defects with the property, such as structural damage, plumbing or electrical problems, or pest infestations.
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