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This document provides a comprehensive disclosure by the seller regarding the condition of a residential property in accordance with the District of Columbia Residential Real Property Seller Disclosure Act. It outlines the requirements for completion, the necessary information to disclose, and the seller\'s obligations toward potential buyers. It includes sections on structural conditions, operating systems, appliances, environmental issues, and a certification of the information provided.

How to fill out sellers disclosure statement

How to fill out sellers disclosure statement

1. Begin by including the date and property address at the top of the form.
2. Identify the seller(s) and provide their names and contact information.
3. Discuss the property condition, detailing any known issues such as plumbing problems or electrical malfunctions.
4. Disclose any environmental hazards like mold, asbestos, or lead paint.
5. Confirm whether there are any ongoing legal disputes regarding the property.
6. Indicate if any systems are operational, such as heating, cooling, or appliances.
7. Mention any repairs or renovations made, including permits obtained.
8. Review and sign the disclosure statement, acknowledging all the information provided is truthful.

Who needs sellers disclosure statement?

1. The seller of a residential property is typically required to provide a seller's disclosure statement to potential buyers.
2. Real estate agents and brokers may also need the statement to facilitate transactions and ensure transparency.
3. Buyers benefit from the statement as it helps them make informed decisions about the property's condition.

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What is sellers disclosure statement?

A seller's disclosure statement is a document that a seller provides to potential buyers that outlines the known condition of the property and any issues or defects that could affect its value.

Who is required to file sellers disclosure statement?

In many states, sellers of residential real estate are required to file a seller's disclosure statement. This can include property owners, home builders, and sometimes agents representing the sellers.

How to fill out sellers disclosure statement?

To fill out a seller's disclosure statement, the seller must carefully answer questions regarding the property's condition, including information about structural issues, past repairs, environmental hazards, and other relevant details. It should be filled out honestly and thoroughly.

What is the purpose of sellers disclosure statement?

The purpose of a seller's disclosure statement is to inform potential buyers about the condition of the property, ensuring transparency in the transaction and helping buyers make informed decisions.

What information must be reported on sellers disclosure statement?

Information that must be reported typically includes details about the property's physical condition, any known structural issues, past renovations or repairs, presence of hazardous materials, and any neighborhood or community-related issues.