Delaware Seller's Real Estate Disclosure Statement

State:
Multi-State
Control #:
US-01631
Format:
Word; 
Rich Text
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Description

This form is a Seller's Disclosure Statement. This disclosure statement concerns the condition of property described in the document. The seller acknowledges that the information contained in the form is true and accurate.
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FAQ

Is Delaware a disclosure state? Yes; in Delaware, home sellers are required by law to disclose the condition of their home. If you're preparing to sell your home, you may be wondering what your legal obligations are when it comes to disclosure.

The TDS law does not apply to residential properties of 5 or more units, commercial, industrial, vacant land or agricultural property.

A Seller's Disclosure is a legal document that requires sellers to provide previously undisclosed details about the property's condition that prospective buyers may find unfavorable. This document is also known as a property disclosure, and it's important for both those buying a house and for those selling a house.

Maryland Law allows disclosure or disclaimer In Maryland, sellers can let buyers know the condition and defects of the house (the disclosure), or issue a disclaimer.

The document provided by the seller that described the condition of the property is known as the Transfer Disclosure Statement. As a buyer, you should receive this document during the contract contingency period.

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.

In some cases, residential property transfers are exempt from the requirement to provide the Seller's Disclosure of Real Property Condition Report. In such cases, if a Delaware licensee is involved in the transaction, a property disclosure exemption form must be completed instead.

The seller and any broker(s)/agent(s) involved are to participate in the disclosures. If more than one broker/agent is involved, the broker/agent obtaining the offer is to deliver the disclosures to the prospective buyer unless the seller instructs otherwise.

All real property sales in Delaware require radon disclosure; there are no exemptions.

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Delaware Seller's Real Estate Disclosure Statement