chapter 21 seller's disclosure statement

how many yields are there in circumstances seller disclosure

4

state-mandated seller disclosure statements are

excellent results and very few consumer complaints. More than two-thirds of the states now require owner disclosures about property defects and health hazards. The risk of using the form are nominal, and the benefits are great.

what are the laws of seller disclosure statement

extensive litigation on the sales of real property based on misrepresentation and material omission. When the buyers sues, the broker is often a defendant because the seller is gone and the broker marketed the property. This creates an unfair burden on a broker who may have neither knowledge of the defect nor the expertise ti investigative the potential for defects

what is the third yield of circumstances seller disclosure

it allows the buyer to make an informed decision as to whether to purchase

what is the fourth yield of circumstances seller disclosure

it may provide a more concrete bias for litigation if the buyer can determine that the seller filled out the disclosure statement incorrectly or failed to disclose a defect that the seller knew was material

what is the second yield of circumstances seller disclosure

it provides a bias from which the buyer can conduct further investigation on the property

what is the key for Brokers and sellers disclosure statement

now have written proof as to what disclosures were made which should be compared with the listing agreements and the MLS disclosures to assure consistency in marketing their product. in addition, knowing that there is a defect allows the broker to effectively Market the property "as is," disclosing the defects and therefore limiting liability for both the seller (they sometimes Overlook potential liability and their eagerness to sell) and the broker

what is seller disclosure

statements are a detailed disclosure of property defects on a form often produced by a real estate trade Association

what are the general rules on detail disclosure statement

the seller needs to fill out the forms, which are then presented to the buyer as a representation of the seller statement of condition of the property. The seller is most likely to fill out the disclosure because the seller simply knows more about the property anybody else

what is the first yield of circumstances seller disclosure

the seller not the broker the buyer as to which defect exist