SELLER Property Disclosure Statement
Seller property disclosure statement
An owner or seller must reveal or disclose any material defects about the property or asset that is being sold which are not readily apparent. This kind of disclosure statement is formed to help the seller to comply with any requirements of disclosure and to also help the buyer to evaluate the property in consideration. It discloses the owner’s information of the property condition on the date it is signed by the parties. However, it is not an alternative for any warranty that the buyer would like to acquire. The purchaser is also encouraged to bring out any concerns he may have about the condition of the asset that could be included in the statement. However, this statement does not reduce the owner of a duty to divulge a material defect that is not addressed here. A material defect is any problem with the asset or property that would have a negative effect on the value of the property.
Points in the Statement –
The Statement includes the following –
- The type of property and whether it recently had any repairs done to it. For example – roof work, gutter work, termite problems, water repairs
- Any structural problems or remodeling or additions done.
- If the water supply is public or if not then if water was tested. Sewage and plumbing details.
- Type of air-conditioning or heating provided.
- Other safety requirements like security alarm systems or smoke detectors.
- Any electrical appliances provided like washers or ovens or heaters.
- Any existing legal conditions.
Where to download SELLER Property Disclosure Statement Template?
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SELLER’S PROPERTY DISCLOSURE STATEMENT
Seller’s Disclosure: The Seller discloses the following information with the knowledge that even though this is not a warranty, the seller specifically makes the following representations based on the Seller’s knowledge at the signing of this document.
Instructions to Seller: 1) Answer all questions. 2) Report known conditions affecting the property. 3) Attach additional pages with your signature if additional space is required. 4) Complete this form personally. 5) If some items do not apply to your property, check NA (nonapplicable). If you do not know the facts, check UNKNOWN.
Appliances/Systems/Services: The items below are in working order:
Lawn Sprinkler System
Garage Door Opener & Remote
Well & pump
City water system
City sewer system
Central air conditioning
Pool Heater, Wall Liner & equipment
Central heating system
Electronic air filter
Solar heating system
Fireplace and chimney
Wood burning system
Property Conditions, Improvements, & Additional Information:
Basement: Has there been any evidence of water? Yes No
If yes, please explain:
Insulation: Describe, if known:
Urea Formaldehyde foal insulation (UFFI) is installed? Unknown: Yes No
Roof: Leaks? Yes No
Well: Type of well (depth/diameter), age and repair history:
Has the water been tested? Yes No
If yes, date of last report? Results?
Septic Tanks/Drain Fields: Condition:
Heating System: Type/Approximate Age:
Plumbing System: Type: copper__________ galvanized__________ PVC__________ other__________
Any known problems:
Electrical system: Any known problems:
History of infestation: (termites, carpenter ants, etc.)
Environmental problems: Substances, materials or products which may be an environmental hazard such as, but not limited to, asbestos, radon gas, formaldehyde, lead based paint, mold, fuel or chemical storage tanks and contaminated soil on the property:
Unknown__________ Yes__________ No__________. If yes, explain
Has the property been inspected within the last 3 years? If yes explain findings and provide inspection report.
Are there any structural problems on the property?
Other Items: Are you aware of any of the following:
Property features shared in common with adjoining landowners, such as walls, fences, roads, driveways or other features whose use or responsibility for maintenance may have an effect on the property? Unknown: Yes No
Any encroachments, easements, zoning violations or nonconforming uses? Unknown: Yes No
Any ‘common areas’ (pools, tennis courts, walkways or other areas co-owned) or a homeowners association which has any authority over the property? Unknown: Yes No
Structural modifications, alterations or repairs made without necessary permits or by licensed contractors: Yes No
Settling, flooding, drainage, structural or grading problems? Unknown: Yes No
Have there been any damage due to wind, fire, flood, termites or rodents? Unknown: Yes No
Any underground storage tanks? Unknown: Yes No
If the answer is yes to any questions please explain: Attach additional sheets if necessary:
Seller certifies that the information in this statement is true and correct to the best of the Seller’s knowledge as of the date of seller’s signature. Should any changes occur prior to closing Seller will immediately disclose the changes to Buyer.
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