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The Seller Disclosure Statement form plays a crucial role in the home buying process in Michigan. Its primary purpose is to provide prospective buyers with vital information about the condition of the property, ensuring compliance with the Seller Disclosure Act. This form gathers various details about the property that the seller is aware of, such as the condition of the roof, plumbing systems, and appliances. It clarifies that the seller, unless otherwise indicated, does not possess expert knowledge in areas like construction or engineering. Sellers must honestly disclose any issues they know about, whether it’s a leak in the basement or environmental hazards like asbestos. Importantly, this document is not a warranty, but rather a record of the seller’s knowledge at the time of signing, allowing potential buyers to make informed decisions. Furthermore, it serves as a necessary step before finalizing any purchase agreement; failure to provide this signed statement could enable the buyer to terminate the agreement. As important as this form is, it comes with instructions emphasizing the need to answer all questions thoroughly and to consult professional inspections for a more comprehensive understanding of the property’s condition.

Seller Disclosure Statement Example

 

Seller’s Disclosure Statement

Property Address

MICHIGAN

Street

City, Village or Township

Purpose of Statement: This statement is a disclosure of the condition of the property in compliance with the Seller Disclosure Act. This statement is a disclo- sure of the condition and information concerning the property, known by the Seller. Unless otherwise advised, the Seller does not possess any expertise in con- struction, architecture, engineering or any other specific area related to the construction or condition of the improvements on the property or the land. Also, unless otherwise advised, the Seller has not conducted any inspection of generally inaccessible areas such as the foundation or roof. This statement is not a warranty of any kind by the Seller or by any Agent representing the Seller in this transaction, and is not a substitute for any inspections or warranties the Buyer may wish to obtain.

Seller’s Disclosure: The Seller discloses the following information with the knowledge that even though this is not a warranty, the Seller specifically makes the following representations based on the Seller’s knowledge at the signing of this document. Upon receiving this statement from the Seller, the Seller’s Agent is required to provide a copy to the Buyer or the Agent of the Buyer. The Seller authorizes its Agent(s) to provide a copy of this statement to any prospective Buyer in connection with any actual or anticipated sale of property. The following are representations made solely by the Seller and are not the representations of the Seller’s Agent(s), if any. THIS INFORMATION IS A DISCLOSURE ONLY AND IS NOT INTENDED TO BE PART OF ANY CONTRACT BETWEEN BUYER AND SELLER.

Instructions to the Seller: (1) Answer ALL questions. (2) Report known conditions affecting the property. (3) Attach additional pages with your signature if addi- tional space is required. (4) Complete this form yourself. (5) If some items do not apply to your property, check NOT AVAILABLE. If you do not know the facts, check UNKNOWN. FAILURE TO PROVIDE A PURCHASER WITH A SIGNED DISCLOSURE STATEMENT WILL ENABLE A PURCHASER TO TERMINATE AN OTHERWISE BINDING PURCHASE AGREEMENT.

Appliances/Systems/Services: The items below are in working order. (The items listed below are included in the sale of the property only if the purchase agreement so provides.)

 

 

 

Yes

No

Unknown

Not

 

 

Yes

No

Unknown

Not

 

 

 

 

 

 

Available

 

 

 

 

 

Available

 

 

 

 

 

 

 

 

Washer

 

 

 

 

Range/oven

 

 

 

 

 

 

 

 

 

 

Dishwasher

 

 

 

 

 

 

Dryer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Refrigerator

 

 

 

 

 

 

Lawn sprinkler system

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hood/fan

 

 

 

 

 

 

Water heater

 

 

 

 

Disposal

 

 

 

 

 

 

Plumbing system

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TV antenna, TV rotor

 

 

 

 

 

 

Water softener/

 

 

 

 

& controls

 

 

 

 

 

conditioner

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical system

 

 

 

 

 

 

Well & pump

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Garage door opener &

 

 

 

 

 

 

Septic Tank &

 

 

 

 

remote control

 

 

 

 

 

drain field

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alarm system

 

 

 

 

 

 

Sump pump

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intercom

 

 

 

 

 

 

City water system

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Central vacuum

 

 

 

 

 

 

City sewer system

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Attic fan

 

 

 

 

 

 

Central air conditioning

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pool heater, wall liner

 

 

 

 

 

 

Central heating system

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

& equipment

 

 

 

 

 

 

Wall furnace

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Microwave

 

 

 

 

 

 

Humidifier

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trash compacter

 

 

 

 

 

 

Electronic air filter

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ceiling fan

 

 

 

 

 

 

Solar heating system

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sauna/hot tub

 

 

 

 

 

 

Fireplace & chimney

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wood burning system

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Explanation (attach additional sheets if necessary): ______________________________________________________________________________________

________________________________________________________________________________________________________________________________

UNLESS OTHERWISE AGREED, ALL HOUSEHOLD APPLIANCES ARE SOLD IN WORKING ORDER EXCEPT AS NOTED, WITHOUT WARRANTY BEYOND DATE OF CLOSING.

Property conditions, improvements and additional information:

 

 

1.

Basement/Crawlspace: Has there been evidence of water?

 

yes________no ________

 

If yes, please explain: __________________________________________________________________________________________________________

2

Insulation: Describe, if known: __________________________________________________________________________________________________

 

Urea formaldehyde Foam Insulation (UFFI) is installed?

unknown ________

yes________no ________

3.

Roof: Leaks?

 

yes________no ________

Approximate age if known: ______________________________________________________________________________________________________

4.Well: Type of well (depth/diameter, age and repair history, if known): ______________________________________________________________________

Has the water been tested?yes________no ________

If yes, date of last report/results: __________________________________________________________________________________________________

5.Septic tanks/drain fields: Condition, if known: ______________________________________________________________________________________

6.Heating system: Type/approximate age: ____________________________________________________________________________________________

7. Plumbing system: Type: copper ________ galvanized ________ other________

Any known problems? __________________________________________________________________________________________________________

8.Electrical system: Any known problems? __________________________________________________________________________________________

9.History of infestation, if any: (termites, carpenter ants, etc.) ____________________________________________________________________________

________ ________Seller’s Initials

________ ________Buyer’s Initials

Page 1 of 2

 

 

Rev. 1/06

Seller’s Disclosure Statement

MICHIGAN Property Address: ______________________________________________________________________________________________________________

Street

City, Village or Township

10.Environmental problems: Are you aware of any substances, materials or products that may be an environmental hazard such as, but not limited to, asbestos, radon gas, formaldehyde, lead-based paint, fuel or chemical storage tanks and contaminated soil on property.

 

 

unknown______

yes______

no______

 

If yes, please explain: ________________________________________________________________________________________________________

11.

Flood Insurance: Do you have flood insurance on the property?

unknown______

yes______

no______

12.

Mineral Rights: Do you own the mineral rights?

unknown______

yes______

no______

Other items: Are you aware of any of the following:

1.Features of the property shared in common with the adjoining landowners, such as walls, fences,

 

roads and driveways, or other features whose use or responsibility for maintenance may have an

 

 

 

 

effect on the property?

unknown______

yes______

no______

2.

Any encroachments, easements, zoning violations or nonconforming uses?

unknown______

yes______

no______

3.

Any “common areas” (facilities like pools, tennis courts, walkways, or other areas co-owned with

 

 

 

 

others), or a homeowners’ association that has any authority over the property?

unknown______

yes______

no______

4.

Structural modifications, alterations, or repairs made without necessary permits or licensed

 

 

 

 

contractors?

unknown______

yes______

no______

5.

Settling, flooding, drainage, structural, or grading problems?

unknown______

yes______

no______

6.

Major damage to the property from fire, wind, floods, or landslides?

unknown______

yes______

no______

7.

Any underground storage tanks?

unknown______

yes______

no______

8.

Farm or farm operation in the vicinity; or proximity to a landfill, airport, shooting range, etc.

unknown______

yes______

no______

9.

Any outstanding utility assessments or fees, including any natural gas main extension surcharge?

unknown______

yes______

no______

10.

Any outstanding municipal assessments or fees?

unknown______

yes______

no______

11.

Any pending litigation that could affect the property or the Seller’s right to convey the property?

unknown______

yes______

no______

If the answer to any of these questions is yes, please explain. Attach additional sheets, if necessary: ______________________________________________

______________________________________________________________________________________________________________________________

The Seller has lived in the residence on the property from ________________________________ (date) to ________________________________ (date).

The Seller has owned the property since ________________________________________________________________________________________(date).

The Seller has indicated above the condition of all the items based on information known to the Seller. If any changes occur in the structural/mechanical/ appliance systems of this property from the date of this form to the date of closing, Seller will immediately disclose the changes to Buyer. In no event shall the parties hold the Broker liable for any representations not directly made by the Broker or Broker’s Agent.

Seller certifies that the information in this statement is true and correct to the best of Seller’s knowledge as of the date of Seller’s signature.

BUYER SHOULD OBTAIN PROFESSIONAL ADVICE AND INSPECTIONS OF THE PROPERTY TO MORE FULLY DETERMINE THE CONDITION OF THE PROPERTY. THESE INSPECTIONS SHOULD TAKE INDOOR AIR AND WATER QUALITY INTO ACCOUNT, AS WELL AS ANY EVIDENCE OF UNUSUALLY HIGH LEVELS OF POTENTIAL ALLERGENS INCLUDING, BUT NOT LIMITED TO, HOUSEHOLD MOLD, MILDEW AND BACTERIA.

BUYER IS ADVISED THAT CERTAIN INFORMATION COMPILED PURSUANT TO THE SEX OFFENDERS REGISTRATION ACT, 1994 PA 295, MCL 28.721 TO 28.732 IS AVAILABLE TO THE PUBLIC. BUYERS SEEKING SUCH INFORMATION SHOULD CONTACT THE APPROPRIATE LOCAL LAW ENFORCE- MENT AGENCY OR SHERIFF’S DEPARTMENT DIRECTLY.

BUYER IS ALSO ADVISED THAT THE STATE EQUALIZED VALUE OF THE PROPERTY, PRINCIPAL RESIDENCE EXEMPTION INFORMATION AND OTHER REAL PROPERTY TAX INFORMATION IS AVAILABLE FROM THE APPROPRIATE LOCAL ASSESSOR’S OFFICE. BUYER SHOULD NOT ASSUME THAT

BUYER’S FUTURE TAX BILLS ON THE PROPERTY WILL BE THE SAME AS THE SELLER’S PRESENT TAX BILLS. UNDER MICHIGAN LAW, REAL PROP- ERTY TAX OBLIGATIONS CAN CHANGE SIGNIFICANTLY WHEN PROPERTY IS TRANSFERRED.

Seller ________________________________________________________

Date

______________________________________________________

Seller ________________________________________________________

Date

______________________________________________________

Buyer has read and acknowledges receipt of this statement.

 

 

 

 

Buyer

______________________________________________

Date ____________________________

Time ______________________________

Buyer

______________________________________________

Date ____________________________

Time ______________________________

Disclaimer: This form is provided as a service of the Michigan Association of REALTORS®. Please review both the form and details of the particular transaction to ensure that each section is appropriate for the transaction. The Michigan Association of REALTORS® is not responsible for use or misuse of the form for misrepresentation for for warranties made in connection with the form.

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PAGE 2 OF 2

Rev. 1/06
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Form Characteristics

Fact Name Fact Description
State Requirement The Seller Disclosure Statement is mandated by Michigan law under the Seller Disclosure Act.
Purpose This statement informs potential buyers about the condition of the property based on the Seller's knowledge.
Warranty Statement The statement clarifies that it is not a warranty of any kind and does not substitute for professional inspections.
Completion Instructions The Seller must answer all questions, report known conditions, and complete the form personally.
Disclosure Scope Only the Seller's knowledge is represented in the statement; it does not include the Seller’s Agent's representations.
Consequences of Non-Disclosure If the Seller fails to provide this signed statement, the buyer may terminate the purchase agreement.
History of Occupancy The Seller must disclose the duration of their residency and ownership of the property.
Environmental Hazards Disclosure of potential environmental hazards is required, including issues like asbestos or lead-based paint.

Guidelines on Utilizing Seller Disclosure Statement

Filling out the Seller Disclosure Statement form is a crucial step in the home selling process. This form provides potential buyers with essential information regarding the property's condition, allowing them to make informed decisions. To complete the form accurately, follow the steps outlined below.

  1. Begin by entering the property address, including the street, city, village, or township where the property is located.
  2. Answer all questions honestly and thoroughly. Do not skip any sections.
  3. For each item listed under Appliances/Systems/Services, indicate whether it is in working order by marking Yes, No, or Unknown. If an item does not apply, select Not Available.
  4. In the Property Conditions section, address questions related to specific areas such as the basement, roof, water supply, and septic system. Provide explanations where necessary.
  5. Be sure to highlight any prior issues, such as leaks or infestations. This transparency is crucial for establishing trust with potential buyers.
  6. Check any boxes related to environmental problems, flood insurance, mineral rights, or concerns regarding shared property features.
  7. If you have lived in the property for a certain period, fill in the date range accordingly.
  8. Confirm ownership details, including how long you have owned the property.
  9. Sign and date the form to verify that all information provided is accurate to the best of your knowledge.
  10. Finally, provide a copy of the signed Seller Disclosure Statement to the Buyer or their Agent, as required.

Completing this form requires diligence and honesty. By doing so, you foster a positive relationship with potential buyers and facilitate a smoother sale process.

What You Should Know About This Form

What is the purpose of the Seller Disclosure Statement?

The Seller Disclosure Statement serves as a way to inform potential buyers about the condition of a property. This document is a requirement in Michigan under the Seller Disclosure Act. It highlights any known issues with the property as reported by the seller, ensuring that buyers are aware of potential problems before making a purchase. Although it aims to be thorough, it does not replace the need for professional inspections.

Is the information provided in this statement guaranteed?

No, the Seller Disclosure Statement does not guarantee the condition of the property. The seller provides information based on their knowledge at the time of signing. If the seller is not an expert in areas such as construction or engineering, the buyer is encouraged to conduct their own inspections for a comprehensive understanding of the property's condition.

What should sellers keep in mind when filling out the disclosure?

Sellers are required to answer all questions honestly and to the best of their knowledge. They should report any known conditions that affect the property. If additional space is needed, they can attach extra pages with their signature. A failure to provide a signed disclosure statement may allow the buyer to terminate a purchase agreement, meaning sellers should take this process seriously.

What happens if a seller does not disclose a known issue?

If a seller fails to disclose a known problem, they could potentially face legal consequences. Buyers may have grounds for a claim if they discover issues after the sale that should have been disclosed. Transparency is critical to avoid issues and maintain a good relationship between the seller and buyer.

Do buyers need to rely solely on this statement for information?

While the Seller Disclosure Statement provides valuable information, buyers should not rely on it alone. It is advisable for buyers to obtain professional inspections to gain a comprehensive understanding of the property's condition. This includes checking for issues such as indoor air quality or potential allergens that might not be noted in the disclosure.

Can a buyer take legal action based on the disclosures made?

Yes, if a buyer later discovers that the seller knowingly withheld information or misrepresented the condition of the property, they might have grounds for legal recourse. Buyers should keep a record of all disclosures and communications with the seller, as this information may be crucial if disputes arise in the future.

What if the seller has lived in the property for a short time?

If the seller has not lived in the property for a long duration, they may still be responsible for disclosing any issues they are aware of, even if they have not experienced them firsthand. They should provide as much detail as possible about any previous owners' known issues and encourage interested buyers to conduct thorough inspections.

Common mistakes

Filling out a Seller Disclosure Statement form is a critical step in the home selling process. However, many sellers unknowingly make mistakes that can lead to legal complications or misunderstandings with potential buyers. One common oversight is failing to answer all questions thoroughly. Each question is designed to uncover crucial information about the property’s condition. Sellers who leave questions blank may raise red flags and create doubt in a buyer’s mind.

Another frequent error occurs when sellers provide information that isn’t based on their knowledge or experience. The form specifies that disclosures should stem only from what the seller is aware of at the time of signing. When sellers speculate or guess, they increase the risk of misrepresentation. Such misstatements can lead to claims of hiding defects or misleading the buyer.

Some sellers also overlook the importance of reporting known conditions accurately. If there is a known issue, such as plumbing or electrical problems, it must be disclosed. Buyers appreciate transparency, and failure to reveal existing problems can result in significant legal repercussions later on. It is essential to remember that being forthright enhances trust in the transaction.

Additionally, sellers sometimes neglect to utilize the additional pages provided for explanations. When there is not enough space to adequately answer a question, attaching a signed additional sheet is crucial. By omitting this step, sellers may leave important details incomplete, which could lead to misunderstandings or disputes.

Completing the form without assistance is crucial, yet some sellers mistakenly allow their agents to fill it out. It's important for the seller to complete the form themselves. This helps ensure that all answers reflect their personal knowledge. If an agent fills out the form, it may lead to a disconnect between the seller's awareness and the information provided.

Sellers may also incorrectly use the "unknown" and "not applicable" options. If an item does not apply to the property, it is essential to check "not applicable." Conversely, if the seller genuinely does not know the condition of something, indicating "unknown" is the right choice. Misusing these options can create confusion and may mislead buyers about the property's status.

Another mistake involves failing to disclose any structural modifications or repairs made without the necessary permits. Such omissions can have significant consequences. Buyers need to understand what improvements have been made to the property and whether they were completed legally and correctly.

Moreover, sellers sometimes mistakenly believe that their own assessments regarding the property are infallible. Buyers will often conduct their inspections, which may reveal problems that the seller is unaware of. Therefore, sellers should recognize that their disclosures do not serve as guarantees regarding the property’s future condition.

Finally, some sellers may inadvertently skip the section on environmental hazards. Issues like lead paint or radon can have serious implications. It’s vital to address these concerns proactively, as neglecting them could invite legal challenges later. Understanding that these disclosures play a critical role in the buyer's decision-making process is essential.

Documents used along the form

The Seller Disclosure Statement is a crucial document in real estate transactions, particularly in Michigan, as it lays out the known condition of a property. However, several other forms and documents usually accompany this statement to ensure a comprehensive understanding of the property and the sales process. Here’s a brief overview of those documents.

  • Purchase Agreement: This is the legal contract between the buyer and seller that outlines the terms of the sale, including price, closing date, and contingencies. It's binding once both parties sign.
  • Lead-Based Paint Disclosure: For homes built before 1978, sellers are required to provide a lead disclosure form. This document informs buyers of any known lead-based paint hazards and their rights to a lead inspection.
  • Home Inspection Report: This document details the findings from a professional home inspection. It covers the condition of major systems and can reveal necessary repairs or potential issues, aiding buyers in their decision-making.
  • Property Title Report: This report confirms ownership of the property and reveals any liens or encumbrances that could affect the sale. Buyers should review this to ensure clear ownership transfer.
  • Mortgage Pre-Approval Letter: Issued by a lender, this letter indicates the buyer's eligibility for financing. It shows the maximum loan amount a buyer can secure, strengthening their position in negotiations.
  • Closing Disclosure: Provided at least three days before closing, this document outlines the final loan terms, closing costs, and details on the loan itself. It's essential for buyers to review this carefully before closing.
  • Affidavit of Title: This statement allows the seller to affirm there are no unresolved claims, liens, or encumbrances against the property. It provides assurance to the buyer regarding a clear title.
  • Home Warranty Agreement: This optional document offers buyers protection against unforeseen repairs on home systems and appliances for a specified period post-closing. It can enhance buyer confidence.

Incorporating these additional documents with the Seller Disclosure Statement enhances transparency in the real estate transaction. By understanding each document's role, both buyers and sellers can navigate the process more effectively, reducing the likelihood of disputes down the line.

Similar forms

  • Property Condition Disclosure Statement: Similar to the Seller Disclosure Statement, this form provides details about the overall condition of a property, ensuring buyers are informed about the property's state, including any known issues or repairs needed.
  • Lead-Based Paint Disclosure: Required for homes built before 1978, this document alerts buyers to the potential presence of lead-based paint, informing them of the risks and any known lead hazards.
  • Real Estate Purchase Agreement: This contract outlines the terms of a property transaction, including property condition disclosures, but is more comprehensive as it formalizes the agreement between buyer and seller.
  • Home Inspection Report: Conducted by a professional inspector, this report offers an in-depth analysis of the property's condition, identifying issues that may not be disclosed by the seller.
  • Title Report: This document provides detailed information about the property’s ownership history and any liens or claims against it, crucial for understanding potential legal issues related to the property.
  • Home Warranty Information: This document outlines coverage for repairs and replacements of home systems and appliances, providing buyers additional reassurance regarding potential costs after purchase.
  • Homeowners Association (HOA) Documents: For properties within an HOA, these documents detail rules, fees, and regulations, informing buyers about the community living aspects that can affect property value and ownership experience.
  • Environmental Disclosure Statement: Similar to the Seller Disclosure, this form focuses on potential environmental hazards related to the property, ensuring buyers are aware of issues like contaminated soil or nearby landfills.
  • Financing Disclosure: This document outlines the financial aspects of the purchase, such as loan terms and costs, and can include information about property taxes, ensuring buyers understand their financial obligations.
  • Mortgage Loan Estimate: This form provides details about the estimated costs of a mortgage, including interest rates and monthly payments. It helps buyers prepare financially for their new home.

Dos and Don'ts

Here is a list of things to do and avoid when filling out the Seller Disclosure Statement form:

  • Answer all questions accurately: Provide complete and truthful information regarding the property's condition.
  • Report known issues: Disclose any problems that you are aware of affecting the property.
  • Use your own words: Complete the form yourself to ensure the information reflects your knowledge and intentions.
  • Sign additional pages: If more space is needed, attach extra sheets with your signature.
  • Provide unknown status: If you do not know the answer to a question, mark it as “UNKNOWN” instead of guessing.
  • Do not withhold information: Avoid omitting any known defects or conditions that could mislead the buyer.
  • Don’t leave questions blank: Make sure to fill out every section, using “NOT AVAILABLE” where appropriate.

Misconceptions

Misconceptions surrounding the Seller Disclosure Statement are common, and it's essential to clarify these misunderstandings to navigate property transactions effectively. Below are five prevalent misconceptions:

  • Misconception 1: The Seller Disclosure Statement guarantees the property's condition.

    • Many buyers mistakenly believe that this statement acts as a warranty for the property. In reality, it serves only as a declaration of the seller's knowledge about the property. Sellers are not experts and may not be aware of hidden issues

  • Misconception 2: Sellers must disclose everything about the property.

    • While sellers are required to fill out the disclosure form honestly, they are only responsible for reporting information they know. If certain items are unknown to the seller, they simply mark them as such. This means that a lack of knowledge doesn't equate to deception.

  • Misconception 3: Buyers do not need additional inspections if they receive the disclosure.

    • Some buyers assume that reviewing the Seller Disclosure Statement is sufficient and that they do not need to conduct their inspections. However, the statement explicitly advises buyers to seek professional help and inspections before finalizing a purchase. It's a crucial step in ensuring there are no unforeseen issues.

  • Misconception 4: The information disclosed can be used against the seller later.

    • Another common belief is that if a problem arises later, the seller can be held liable based on what was disclosed. The Seller Disclosure Statement explicitly states that it is not part of the contract between buyer and seller. Therefore, the focus should remain on ensuring transparency rather than dwelling on potential liabilities.

  • Misconception 5: The Disclosure Statement contains legal protections for both parties.

    • Buyers often think that the Seller Disclosure Statement provides legal protection throughout the transaction. While it does promote honesty, it doesn't protect against legal claims. Buyers and sellers should still consider legal advice when engaging in real estate transactions.

Key takeaways

Filling out and utilizing the Seller Disclosure Statement form is crucial in real estate transactions. Understanding its components ensures accuracy and transparency. Here are key takeaways regarding the form:

  1. The Seller Disclosure Statement is designed to inform potential buyers about the property’s condition.
  2. Sellers must answer all questions truthfully to avoid potential legal issues later.
  3. It is essential for the Seller to report any known conditions affecting the property.
  4. If additional space is needed, Sellers can attach extra pages with their signature.
  5. Checking NOT AVAILABLE or UNKNOWN is acceptable when specific items do not apply or facts are not known.
  6. The Seller is responsible for providing a signed disclosure statement. Failure to do so allows the buyer to terminate the purchase agreement.
  7. While the statement provides disclosures, it does not serve as a warranty for the property.
  8. All appliances included in the sale should be reported as being in working order unless noted otherwise.
  9. Buyers are strongly encouraged to obtain their own inspections to assess the property's condition fully.
  10. This disclosure is not a substitute for professional advice and should not be considered legally binding.

Understanding these key points can help both sellers and buyers navigate the complexities of real estate transactions effectively.

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