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RESIDENTIAL PROPERTY DISCLOSURE AND DISCLAIMER STATEMENT INSTRUCTIONS TO THE SELLER Please complete the following form. Do not leave any spaces blank. If the question clearly does not apply to the
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THE SELLER(S), SHALL NOT BE LIABLE FOR ANY DAMAGES OF ANY NATURE WHATSOEVER, INCLUDING LOSS OF PROFITS OR GOODWILL, ARISING OUT OF THE SALE OR MISUSE OF THE PROPERTY OR FROM ANY ACTUAL, INADVERTENT OR EMOTIONAL USE OF THE PROPERTY. THESE DISCLOSURES ARE IN ADDITION TO CONDITIONS ON USE OF THE PROPERTY. The seller is required to sell or otherwise dispose of the home in a way that is in the best interest of the community, including the safety of the purchaser and the property. The seller is also required to sell the property in accordance with a sale contract, which is entered into as part of the contract of sale. The sale contract is usually the same contract that will be submitted to the Title Company. Please be sure to ask for a copy of the sale contract at the time of the sale. If the listing representative for this property is not an attorney, please see the Contact Us section on your listing profile. The buyer is responsible for reading and understanding the material provided in this notice and any related terms and conditions and for complying with them. The seller does not warrant, represent or warrant that the buyer will satisfy any particular conditions in this notice and any related terms and conditions for the property and accepts no liability for any failure to comply with any such material. If the buyer fails to satisfy any of the conditions described in this notice and any related terms and conditions as set forth at the beginning of this notice, the seller reserves the right to resell the property at a new price or with different terms and conditions (including without limitation, any warranties or guarantees of any kind) without notice, and the buyer will be liable for all resulting claims, demands, expenses and damages (including without limitation, reasonable attorneys' fees and costs) related to such failure to satisfy or enforce any such condition. All title and risk of loss in the property passing to the buyer immediately upon a bid of the buyer shall pass to the buyer upon the sale or purchase of the property, and the buyer shall have no further interest or property in the property. The buyer further agrees to be bound by any and all actions taken or omitted by the seller on his or her behalf concerning the property, including without limitation, any and all acts or omissions by any dealer or seller regarding the sale or purchase of the property. All bids for the sale shall be in U.S. dollars.

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Residential real estate disclosure refers to the process of revealing or providing relevant information about a property's condition, history, or any legally required disclosures to potential buyers or tenants. It generally involves the seller or landlord disclosing any known defects, issues, or potential risks associated with the property. The purpose of residential real estate disclosure is to ensure transparency and protect consumers from potential problems or liabilities after the purchase or rental agreement. Disclosure requirements vary by jurisdiction, but common areas of disclosure typically include: 1. Material defects or problems: Sellers must disclose any known structural issues, defects, or problems with the property, such as plumbing or electrical problems, foundation damage, or roof leaks. These may be disclosed through a standard form or directly in conversations with the buyer or tenant. 2. Environmental hazards: Certain jurisdictions require the disclosure of environmental hazards like lead-based paint, asbestos, mold, radon, or the property being located in a flood zone. This information helps buyers or tenants make informed decisions about potential health risks or the need for remediation. 3. Legal and financial concerns: Sellers typically disclose if there are any liens, easements, or pending lawsuits affecting the property. Disclosures may also include information regarding previous illegal activities on the premises or any unpaid property taxes. 4. Neighborhood and community information: Sellers may disclose information about the neighborhood or community that could influence a buyer's decision, such as noise levels, quality of nearby schools, or future developments planned in the area. Residential real estate disclosure requirements can vary significantly between jurisdictions, so it is essential for buyers and sellers to become familiar with the specific rules and regulations in their location. Additionally, buyers are often advised to conduct their due diligence and hire home inspectors or other professionals to inspect the property thoroughly, as some issues may not be disclosed or known by the seller.
The homeowners or sellers of residential real estate are typically required to file a residential real estate disclosure. The specific laws and regulations regarding residential real estate disclosures can vary by jurisdiction and may require the homeowners or sellers to disclose certain known issues or defects with the property. It is advisable to consult with a real estate professional or legal expert in the specific jurisdiction to determine the exact requirements for filing a residential real estate disclosure.
Filling out a residential real estate disclosure form requires careful attention to detail and disclosure of all material facts about the property. Here is a step-by-step guide to help you complete the form effectively: 1. Obtain the disclosure form: Start by obtaining the residential real estate disclosure form from your state's real estate regulatory authority or local association of Realtors. This form is typically required by law and may vary slightly from state to state. 2. Gather relevant information: Gather all relevant information about the property that may affect its value or desirability. This includes details about the structure, systems, utilities, environmental conditions, and any known issues or defects. 3. Section by section completion: a. Property details: Begin by providing the basic information about the property, such as the address, buyer's and seller's names, and property identification number. b. Structural details: Fill in all details about the structure, such as the number of bedrooms, bathrooms, and any relevant zoning information. c. Mechanical systems: Disclose information about the HVAC system, electrical, plumbing, and other mechanical systems. Include details about any current or past problems, repairs, or known issues. d. Environmental conditions: Provide information related to environmental hazards like lead-based paint, asbestos, mold, or any other known contamination on the property. If you are unsure about environmental conditions, it's recommended to consult an expert or conduct necessary inspections. e. Property defects: Disclose any known defects or problems with the property, including structural, electrical, plumbing, or any other issues. Be honest and thorough while describing these problems. f. Disclosures required by law: Some states may require additional disclosures, such as flood zone information, earthquake zones, or other specific local regulations. Research your state's requirements and provide accurate information. 4. Seller's statement: The seller should provide a written statement detailing any known defects or issues they are aware of. This additional statement helps provide a comprehensive view of the property's condition. 5. Professional inspections: If the property has been recently inspected, attach the inspection reports or disclosures. If not, it may be a good idea for buyers to conduct an independent inspection. 6. Disclosures made by the buyer: The buyer may also have to disclose certain issues if they have had inspections or are aware of any specific problems before closing the deal. 7. Signatures and date: The form often requires both the buyer and seller to sign and date the disclosure, acknowledging that all the information provided is accurate to the best of their knowledge. Remember, it is crucial to provide complete and accurate information in the residential real estate disclosure form, as failure to disclose material facts could lead to legal consequences. If you are uncertain about any aspects, consult a real estate attorney or agent for guidance specific to your situation.
The purpose of residential real estate disclosure is to provide buyers with essential information about the property they are considering purchasing. It aims to ensure transparency and enable buyers to make informed decisions about the property's condition and potential issues. By requiring sellers to disclose known defects, hazards, or other material facts related to the property, disclosure laws protect buyers from unpleasant surprises after the purchase. It also helps promote fairness and equity in real estate transactions by ensuring both parties have access to relevant information.
The specific information required to be reported on residential real estate disclosure can vary depending on the jurisdiction. However, some common elements that are typically included in residential real estate disclosure forms include: 1. Property condition: Any known defects, issues, or damages in the structure, systems (such as plumbing, electrical, heating), or other components of the property must usually be disclosed. This may include problems with the roof, foundation, walls, flooring, or any other part of the property. 2. Environmental hazards: Disclosure of any known environmental hazards or contaminants on the property, such as lead-based paint, asbestos, mold, radon, or underground storage tanks. 3. Previous repairs or renovations: Any repairs or renovations done to the property, especially if they required permits or inspections, should be disclosed. This includes information about the age, condition, and warranties of major appliances, fixtures, or systems. 4. Legal issues: Any current or past legal disputes, zoning violations, or pending building code violations associated with the property should be disclosed. 5. Property history: Information about any major incidents or events that have occurred on the property, such as floods, fires, accidents, or deaths. 6. Neighborhood issues: Disclosure of any known nuisances, like noisy neighbors, high crime rates, or any other undesirable neighborhood conditions that might impact the buyer's use or enjoyment of the property. 7. Utility and service information: Disclosing the availability, reliability, and costs associated with utilities, such as water, electricity, gas, and internet connections, as well as any ongoing services or maintenance agreements (e.g., pest control or homeowner association fees). It's important to note that disclosure requirements may vary by jurisdiction, and sellers should consult local real estate laws and regulations or seek professional advice to ensure compliance with the specific disclosure obligations in their area.
The specific deadline to file a residential real estate disclosure in 2023 may vary depending on the jurisdiction and specific regulations governing real estate transactions. It is recommended to consult with a local real estate attorney, real estate agent, or the respective real estate authority in your area to determine the exact deadline for filing the disclosure.
The penalty for the late filing of residential real estate disclosure can vary depending on the jurisdiction and specific regulations in place. In some cases, there may be monetary fines imposed on the responsible party for each day that the disclosure is late. Additionally, failure to file disclosure forms within the required timeframe can potentially result in legal consequences, such as being held liable for any damages suffered by the buyer due to inadequate or delayed disclosure. It is important to consult with local laws and regulations or seek professional legal advice for accurate details regarding penalties for late filing of residential real estate disclosure in a specific area.
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