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Distributed as a courtesy by Page 1 of 6 F FIDELITY NATIONAL T TITLE I INSURANCE C COMPANY OF NEW YORK PROPERTY CONDITION DISCLOSURE STATEMENT PURSUANT TO NY REAL PROPERTY LAW ART. 14 462(2) NAME

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How to fill out property condition disclosure statement

How to fill out a property condition disclosure statement:

01

Begin by gathering all necessary information: Start by reviewing the property condition disclosure form and gathering all relevant information about the property. This may include details about the age of the property, major renovations or repairs conducted, any known defects or issues, and any warranties or guarantees that apply.

02

Be thorough and honest: It is crucial to provide accurate and honest information when filling out the property condition disclosure statement. Take the time to fully inspect the property and disclose any known defects or issues. It is better to be upfront about any problems rather than risk legal repercussions later on.

03

Use clear and concise language: Write your responses in a clear and concise manner, using simple language that can be easily understood by potential buyers. Avoid using technical jargon or industry-specific terms that may confuse the reader.

04

Provide relevant details: When disclosing any defects or issues, provide as much relevant information as possible. Describe the problem in detail, including its severity, any repairs conducted, and whether it is an ongoing or resolved issue. This can help buyers make informed decisions about the property.

05

Seek professional advice if needed: If you have any doubts or uncertainties about how to fill out the property condition disclosure statement, it is advisable to seek professional advice. Consult with a real estate agent, attorney, or property inspector who can assist you in completing the form accurately and in compliance with local regulations.

Who needs a property condition disclosure statement:

01

Sellers: Property owners who are selling their property are typically required to provide a property condition disclosure statement. This helps potential buyers make informed decisions about the condition of the property and any known defects or issues.

02

Real estate agents: Real estate agents representing sellers are also involved in the process of completing the property condition disclosure statement. They can assist sellers in gathering the necessary information and ensuring compliance with local laws and regulations.

03

Buyers: Buyers can benefit from reviewing the property condition disclosure statement before making a purchase. It provides insight into the condition of the property and any known issues or defects. Buyers can use this information to negotiate repairs or adjustments to the purchase price.

Overall, filling out a property condition disclosure statement requires careful attention to detail, thoroughness, and transparency. It is an essential part of the real estate transaction process that helps protect both buyers and sellers.

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What is property condition disclosure statement?

The property condition disclosure statement is a document that provides details about the condition of a property to a potential buyer.

Who is required to file property condition disclosure statement?

Sellers or property owners are typically required to file a property condition disclosure statement when selling a property.

How to fill out property condition disclosure statement?

The property condition disclosure statement can be filled out by providing accurate and detailed information about the condition of the property, 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 and any known issues before they make a purchase.

What information must be reported on property condition disclosure statement?

Information that must be reported on a property condition disclosure statement includes details about the structure, systems, and any known issues or defects of the property.

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