Washington State Form 17 For Sale Cheap In Hillsborough
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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).
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.
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.
Who Must Make These Seller Disclosures in California. As a broad rule, all sellers of residential real estate property containing one to four units in California must complete and provide written disclosures to the prospective buyers.
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.
You can get the form from a buyer's or seller's agent or real estate attorney. While the disclosure form will vary in format, it may contain the following: List of specific issues the homeowner must check off if the home has them. Questions about the property the seller must answer with “Yes,” “No” or “Unknown”
It is prepared by the seller's solicitors.
