Get Disclosure: Personal Interest And Knowledge - RECO Website

It is the duty of the seller to also disclose any latent defects with the property to any potential buyers. A latent defect is a defect that cannot be detected by any reasonable means, and it is not usually discovered by a standard home inspection. Disclosure documents don't just serve to inform buyers.

The disclosure of interest in trade is used any time a real estate professional (regardless of the category of licence) or associate of the real estate professional, directly, or indirectly acquires or disposes of real estate.

In general, a disclosure document is supposed to provide details about a property's condition that might negatively affect its value. Sellers who willfully conceal information can be sued and potentially convicted of a crime. Selling a property "As Is" will usually not exempt a seller from disclosures.

Also known as a property disclosure statement, a real estate disclosure statement is a document that lists any current defects, repairs, and other significant property details to give buyers a complete picture of the home.

The use of Disclosure Statements is mandatory in some places, but in Ontario, and elsewhere in Canada, they are voluntary although “strongly recommended” by real estate agents.

If you're selling a home, you are required by law in BC to provide a Property Condition Disclosure Statement and other financial statements to the potential buyer. This document details any existing problems with the property and explains how you can resolve them.

It is the duty of the seller to also disclose any latent defects with the property to any potential buyers. A latent defect is a defect that cannot be detected by any reasonable means, and it is not usually discovered by a standard home inspection. Disclosure documents don't just serve to inform buyers.

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.