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.
Maryland Seller's Real Estate Disclosure Statement
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How to fill out Seller's Real Estate Disclosure Statement?
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FAQ
Under Maryland state law, when you sell a home, you're required to offer up any information you have in regards to latent damage. Latent damage refers to any issues that may not be obvious to the buyer, or have been a problem in the past. One such issue, and a major one at that, is the presence of mold.
When should a prospective buyer receive a copy of the Maryland Residential Property Disclosure and Disclaimer Statement? The property disclosure should be provided to the buyer before or at the time the buyer executes a purchase agreement with the seller.
Here are eight common real estate seller disclosures to be aware of, whether you're on the buyer's side or the seller's side.Death in the Home.Neighborhood Nuisances.Hazards.Homeowners' Association Information.Repairs.Water Damage.Missing Items.Other Possible Disclosures.
What must you declare when selling a property? Major problems found in previous surveys (e.g. subsidence, problems with the roof etc.) Crime rates in the area (e.g. neighbourhood burglaries, murders etc.) Location of the house (e.g. is it near a flight path or near a motorway?)
In a full disclosure state, like Maryland, sales prices are readily available across numerous real estate web sites, and this data makes real estate markets efficient and transparent.
Section 10-702 of the Real Property Article, Annotated Code of Maryland, requires the seller of certain residential real property to furnish to the purchaser either (a) a RESIDENTIAL PROPERTY DISCLAIMER STATEMENT stating that the seller is selling the property "as is" and makes no representations or warranties as to
Section 10-702 of Maryland's Real Property Article states that a seller must disclose the latent defects in their property to the buyer. Latent defects, in this context, refer to the kind of defects that the buyer might not be able to spot during an inspection.