Washington State Form 17 For Sale In Michigan
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FAQ
Washington State requires sellers of residential real property to thoroughly disclose material facts on a form called the Residential Real Property Disclosure Statement (often referred to as Form 17).
This form, called the Risk Assessment Report for Broker-Dealers, consists of six pages relating to the broker's business activities and their risk profile. This SEC form requires broker-dealers to file the form as per Rules 17h-1T and Rule 17h-2T of the Securities and Exchange Act of 1934.
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? Washington state does not require disclosure of death on a property.
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.
Transfers Between Related Parties Family transactions are frequently exempt, including: Transfers between co-owners. Sales or gifts to spouses or direct family members (e.g., parent to child). Transfers resulting from divorce settlements or property divisions.
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.
A seller's disclosure is actually not required by the law, so as a seller, you're better off not representing anything, because the standard for a case like this is actual knowledge, and that you intentionally did not disclose it.
If there is a serious issue with your Michigan home that was not disclosed, you could have a legal remedy against the seller, the seller's broker, or possibly, the home inspector.
Almost every U.S. state has passed laws mandating that sellers give buyers specific information about what structural and other features the house contains, and their condition. In some cases, the brokers must speak up about hidden conditions, too.
