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CHICAGO ASSOCIATION OF REALTORS LEASED PAINT AND LEASED PAINT HAZARDS DISCLOSURE (For Apartment Leases)LEAD WARNING STATEMENT Every purchaser of any interest in or tenant planning to lease any portion

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How to fill out real estate disclosure

01

Start by reading the instructions carefully to understand the purpose and requirements of the real estate disclosure form.

02

Gather all the necessary documents and information related to the property, such as title deeds, survey reports, property inspections, and any known issues or defects.

03

Begin with the basic information section, which includes the property address, sale price, and date of disclosure.

04

Move on to the property description section, where you will provide details about the type of property, its dimensions, amenities, and any additional structures on the premises.

05

Next, disclose any known defects, damages, or issues with the property. Be thorough and honest in your disclosures to avoid legal consequences later on.

06

Fill out the seller's disclosure statement, which requires you to answer specific questions about the condition of the property, its systems, and any past repairs or renovations.

07

If applicable, indicate any personal property or fixtures that will be included or excluded from the sale.

08

Review the completed disclosure form for any errors or missing information. Make sure everything is accurate and complete before signing and dating the document.

09

Provide a copy of the disclosure form to the buyer(s) and keep a copy for your records.

10

Consult a real estate attorney or agent if you have any doubts or concerns about filling out the disclosure form.

Who needs real estate disclosure?

01

Real estate disclosure is needed by anyone selling or transferring ownership of a property. This includes individual homeowners, real estate agents, property developers, banks or financial institutions, and any other legal entity involved in the sale or transfer of real estate.

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What is real estate disclosure?

Real estate disclosure refers to the legal requirement for sellers to inform potential buyers of known issues or defects regarding the property being sold.

Who is required to file real estate disclosure?

Typically, sellers of residential real estate are required to file real estate disclosures, including individual homeowners and real estate agents.

How to fill out real estate disclosure?

To fill out real estate disclosure, sellers must complete a standardized form detailing known issues with the property, providing accurate and honest information, and signing the document.

What is the purpose of real estate disclosure?

The purpose of real estate disclosure is to protect buyers by ensuring they are informed about the property's condition and any potential risks before completing a purchase.

What information must be reported on real estate disclosure?

Sellers must report information about property conditions, including structural issues, pest infestations, environmental hazards, and any legal disputes affecting the property.

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