What should the seller's property disclosure statement reveal?

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.

What must be disclosed when selling a house in Washington state?

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.

What disclosure does the seller property disclosure statement require Quizlet?

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.

US Legal Forms
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Agreements - Agreement Forms
Multi-State
One Time Listing and Showing Agreement

Washington State Form 17 With Sale Agreement In Pima

Q: What does the seller&#039;s disclosure statement contain?

A Seller&#039;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.

Category:

Real Estate - Listing Agreements

State:

Multi-State

County:

Pima

Control #:

US-00056DR

Format:

Instant download

Description

The Washington state form 17 with sale agreement in Pima is a one-time listing and showing agreement that outlines the responsibilities and rights of both sellers and buyers during a real estate transaction. This legally binding contract allows a specified realtor to show the property to identified buyers and sets forth the terms for a professional fee to be paid by the seller upon the sale of the property. Essential sections of the form include the legal description of the property, the names of the seller(s) and buyer(s), and the commission details which can be stated as a dollar amount or percentage of the sale price. Users should ensure that they understand the agreement fully; seeking legal advice is encouraged if any provisions are unclear. The form also includes agency relationship disclosures, clarifying whether the realtor represents the buyer, seller, or operates as a transactional agent. This form is particularly useful for legal professionals such as attorneys, partners, and paralegals involved in real estate, as well as for legal assistants tasked with drafting or managing real estate documentation. By utilizing this form, users ensure clear communication between parties and compliance with Washington state regulations, enhancing the overall efficiency of property transactions.

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FAQ

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.

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 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.

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.)

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.

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.

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).

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.

Directors and officers of publicly traded companies: Directors and officers of publicly traded companies have a fiduciary duty to act in the best interests of the company and its shareholders. As part of this duty, they are required to disclose material facts to the public in a timely manner.