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SELLERS PROPERTY DISCLOSURE STATEMENT EXHIBIT Georgia REALTORS 2020 Printing This Sellers Property Disclosure Statement (Statement) is an exhibit to the Purchase and Sale Agreement with an Offer Date

How to fill out property disclosure statement

How to fill out property disclosure statement

1. Here is a step-by-step guide on how to fill out a property disclosure statement:
2. Start by obtaining the official property disclosure statement form from your state's real estate commission or local government office.
3. Carefully read through the entire form to understand the information that needs to be disclosed.
4. Gather all relevant documents and records related to the property, such as title deeds, survey reports, and inspection reports.
5. Begin filling out the form section by section, providing accurate and complete information as required.
6. Pay close attention to any questions regarding the property's physical condition, history of repairs or renovations, water damage, pest infestations, or any other potential issues.
7. If you are unsure about certain details or have limited knowledge about certain aspects of the property, it is advisable to consult with experts such as real estate agents, lawyers, or home inspectors.
8. Double-check all the information you have provided before signing the disclosure statement.
9. Make copies of the completed form for your records and provide the original to the buyer or their representative.
10. Keep a record of the date when the disclosure statement was completed and provided to the buyer.
11. It is essential to be truthful and transparent while filling out the property disclosure statement to avoid any legal consequences or disputes in the future.

Who needs property disclosure statement?

1. The property disclosure statement is typically required in real estate transactions and is crucial for both sellers and buyers of residential properties.
2. Sellers: It is the responsibility of property sellers to complete and provide a property disclosure statement to potential buyers. This allows buyers to make informed decisions about purchasing the property and helps protect sellers from potential lawsuits due to non-disclosure of material defects or issues.
3. Buyers: Property disclosure statements are important for buyers as they provide valuable information regarding the condition, history, and potential issues associated with the property they intend to purchase. This information helps them evaluate the property's suitability and make educated decisions before finalizing the purchase.

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What is property disclosure statement?

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

Who is required to file property disclosure statement?

Sellers of real estate are usually required to file a property disclosure statement.

How to fill out property disclosure statement?

To fill out a property disclosure statement, sellers must provide accurate and detailed information about the property's condition, history, 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 any defects or problems with the property.

What information must be reported on property disclosure statement?

Information that must be reported on a property disclosure statement includes details about the property's structural integrity, previous renovations, pest problems, and other relevant issues.