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FIRPTAFIRPTA Affidavits form recommended and approved for, but not restricted to use by, the members of the Pennsylvania Association of REALTORS (PAR). 1 2 3 4 5 6 7 8 9 10 11 12 13PROPERTY SELLER

How to fill out sellers property disclosure statement

How to fill out sellers property disclosure statement

1. To fill out the sellers property disclosure statement, follow these steps:
2. Gather all necessary documents and information about the property, such as past repairs, renovations, or known issues.
3. Start by providing basic details about the property, including address, legal description, and size.
4. Specify the type of property, whether it's a residential house, condominium, or commercial building.
5. Disclose any known issues or defects in the property, such as structural problems, water damage, or pests.
6. Describe any past repairs or renovations that have been done on the property, including the dates and details.
7. Mention any appliances or systems that are included with the sale of the property and their current condition.
8. Provide information about the property's utilities, such as the source of water, heating system, and electrical setup.
9. Disclose any environmental concerns, such as hazardous materials or contamination on the property.
10. Answer all questions honestly and to the best of your knowledge, as providing false information can lead to legal consequences.
11. Review the completed disclosure statement for accuracy and completeness before signing it.
12. Make copies of the signed disclosure statement for both the buyer and seller to keep for their records.

Who needs sellers property disclosure statement?

1. The sellers property disclosure statement is typically necessary for anyone selling a property, including:
2. - Individual homeowners selling their residential properties
3. - Real estate agents or brokers representing sellers in a property transaction
4. - Property developers or investors selling commercial or residential properties
5. - Executors or administrators selling properties on behalf of estates
6. - Banks or financial institutions selling foreclosed properties
7. - Anyone selling a property that is legally required to disclose known information about the property

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What is sellers property disclosure statement?

A sellers property disclosure statement is a document provided by the seller of a property that outlines any known defects or issues with the property, as well as details regarding its condition.

Who is required to file sellers property disclosure statement?

Typically, the seller of residential real estate is required to file a sellers property disclosure statement, often as part of the home selling process.

How to fill out sellers property disclosure statement?

To fill out a sellers property disclosure statement, the seller should carefully answer all questions regarding the property's condition, noting any repairs, defects, or issues, and be honest to avoid legal complications.

What is the purpose of sellers property disclosure statement?

The purpose of the sellers property disclosure statement is to inform potential buyers about the known condition of the property, allowing them to make informed decisions before purchase.

What information must be reported on sellers property disclosure statement?

Information that must be reported includes past repairs, structural issues, pest infestations, and any environmental hazards, among other potential defects.