Property Condition Disclosures

When a buyer receives an amendment of any material changes that occur in relation to the property condition, they may terminate the offer in writing within

3 days of receiving the amendment in person and 5 days of receiving it by mail

Transfers from a government entity

Does not require to have a fully completed PCDS

The fact or suspicion of the following stigmatizations is not material to the physical condition of the property and need not be disclosed

The property was owned or occupied by someone exposed to any disease which is not transmitted through common occupancy of the property, including but not limited to HIV or AIDS

The following is not true of a Property Disclosure Statement

The purchase or sale of any items considered personal property should be negotiated by the parties as part of the contract of sale and the ownership interests should be transferred by a notation in the special provisions of the contract

If a person filling out the transfer disclosure form does not know the answer or cannot fill the answer into the blank provided, their options are to

attach additional pages if necessary to fully explain a property's condition write N/A for not applicable write UNK for unknown But never leave the question unanswered and the space blank

The failure of any licensee to inform their client of the clients' responsibilities could subject the licensee (salesperson or broker) to

censure, suspension, or revocation of their respective real estate license

The state statute requires a transferor/seller to disclose all personal knowledge about a

residential property which would be material to a buyer deciding to purchase the property

All the following statements are true for Property Disclosure Statement

the PCDS shall not be considered as a warranty by the Transferor/Seller the PCDS is for "disclosure" purposes only and should not be included or become a part of any contract between the Transferor/Seller and the Transferee/Buyer the PCDS may not be used as a substitute for a home inspection by a MS licensed home inspector or for the insurance of any home warranty policy that the TransferorSeller or Transferee/Buyer may obtain

Who is responsible for completing the Property Condition Disclosure Statement

the seller. It is the seller's agent duty to make certain its completed by the seller

When must a Property Disclosure Statement be used

under a new construction house under a listing contract