Washington State Form 17 With Sale Agreement In California
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FAQ
Sellers must complete a Transfer Disclosure Statement (TDS), in which they disclose known defects and other pertinent information about the property. Failure to disclose these material facts can lead to legal liability.
The sellers must disclose, in writing, any and all known material facts that affect the value of their property whether the buyers ask or not. Even if a home is sold "as is" in its present condition, the seller must disclose any observable (patent) defects as well as any hidden (latent) defects.
A disclosure statement is a financial document given to a participant in a transaction explaining key information in plain language. Disclosure statements for retirement plans must clearly spell out who contributes to the plan, contribution limits, penalties, and tax status.
A Seller's Disclosure statement can include information regarding problems the seller encountered with the surrounding neighborhood while living on the property. These can include local issues like: Property line disputes. Sources of loud noises or bad smells.
Sellers may be required to disclose a list of all of the major repairs made in various areas of the property. Buyers will want to know of any past problems. They'll want to know if an issue's been fixed and how it was fixed, if it requires ongoing maintenance or if it has the potential to cause problems in the future.
Sellers must fill out either an unimproved or improved residential real estate disclosure form, which covers various topics about the property's condition. This comprehensive form asks about the state of the home's electrical, plumbing, heating and other systems.
While sellers have always been required to disclose material facts, the Form 17 has been required by law (RCW 64.06. 020) since January 1, 1995. It has undergone ten revisions since its inception, the last of which went into effect in 2021.
The seller must disclose on the TDS such things as additions made without a building permit, easements, encroachments, the existence and functionality of appliances, fill dirt use, zoning problems, and neighborhood noise or nuisance problems.)
In California, sellers are required to disclose material facts that could affect the value or desirability of a property. This obligation is primarily governed by the state's real estate disclosure laws, most notably the California Civil Code §§ 1102-1102.17.
The state does not require disclosure of any deaths, including murders or suicide. Do you have to report a death in your home while selling real estate in Washington?
