Oregon Residential Real Estate Sales Disclosure Statement
What this document covers
The Residential Real Estate Sales Disclosure Statement is designed for sellers in Oregon who are engaged in a residential sales transaction. This form allows the seller to disclose the condition of the property transparently, helping potential buyers make informed decisions. Unlike similar forms, this disclosure specifically addresses various aspects of the property's condition, ensuring that buyers are aware of any potential issues before finalizing the sale.
Main sections of this form
- Section 1: Exclusion criteria for properties that may not require full disclosure.
- Section 2: Sellerâs property disclosure statement detailing the condition of the property.
- Buyer's acknowledgment section confirming receipt of the disclosure.
- Space for signature of both the seller and the buyer, affirming the agreement.
- Detailed inquiries about specific property issues, such as title, water supply, sewage systems, and structural integrity.
Situations where this form applies
Sellers should use this form when they are entering into a residential real estate transaction in Oregon. It serves to inform potential buyers about the property's condition, which is vital for maintaining transparency and compliance with Oregon state law. The form is also necessary when responding to written offers from buyers, ensuring that they have all the relevant details about the home's status.
Who needs this form
- Sellers of residential property in Oregon.
- Real estate agents representing sellers in residential transactions.
- Buyers who are considering making an offer on a property and want to ensure they receive necessary disclosures.
How to complete this form
- Identify the parties involved: Name and address of the seller and the buyer.
- Fill out Section 1 if claiming an exclusion; if not, complete Section 2 in detail.
- Answer all questions regarding the property's condition truthfully and thoroughly.
- Date and sign each page of the form to validate the disclosure.
- Provide any additional documentation or explanations as needed.
Does this document require notarization?
This form does not typically require notarization unless specified by local law. Ensure that all required signatures are obtained from both parties to validate the disclosure statement.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes
- Leaving blank spaces where information is required.
- Failing to date and sign each page of the disclosure.
- Not disclosing known issues or defects about the property.
Benefits of completing this form online
- Convenience of completing the form at your own pace from anywhere.
- Easy to edit and update if any information changes.
- Reliable templates drafted by licensed attorneys for legal accuracy.
Summary of main points
- The form is essential for residential real estate transactions in Oregon.
- It's imperative for Sellers to disclose all known issues to protect themselves legally.
- Buyers have the right to revoke their offer based on the disclosures provided.
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FAQ
Do not exclude any information. Be honest. Write clearly. Use simple words in writing your income statement for disclosure. Attach necessary documents to your disclosure statement. Review and revise.
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 buyer.
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