Form 17 Disclosure With Example

• Category: Real Estate - Home Sale
• State: Washington
• Control #: WA-37014
• Format: Word; Rich Text

Description

The Form 17 disclosure, known as the Seller's Disclosure Statement for Improved Residential Real Estate, is a legal document in Washington State that requires sellers to disclose certain material facts about the condition of their property to potential buyers. Key features of this form include a comprehensive range of questions covering various aspects of the property such as title issues, water systems, sewer systems, structural concerns, and potential environmental hazards. For instance, if a seller answers 'yes' to questions marked with an asterisk (*), they must provide additional explanations. This form must be completed without any blanks, and if a question does not apply, 'NA' should be indicated instead. The completed form must be signed and dated by the seller, and presented to the buyer no later than five business days after the acceptance of a purchase contract. This form is essential for attorneys, partners, owners, associates, paralegals, and legal assistants as it helps ensure compliance with legal obligations and promotes transparency during real estate transactions. Furthermore, it protects both the seller and buyer by clearly documenting the known conditions of the property, potentially reducing liability for undisclosed issues.