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Seller's Disclosure - Statement of Condition


Overview
The Seller's Disclosure - Statement of Condition is a legal document that must accompany the Real Estate Sale Contract For Sale By Owner document.  
This document provides the seller with the opportunity to make a detailed and specific statement about the physical condition of every aspect of the residence.

When You Need It
-When you are selling your house without the services of a real estate agent or broker.  The Seller must have a disclosure statement available to potential buyers when the residence is being shown.
-To disclose everything known about the house being sold, including its mechanical and other features, fixtures and the land it sits upon.  This type of information is usually known to the Seller who has resided in the residence, but unknown to the Buyer who has no experience with the property.  

Getting Started
-Review the disclosure carefully before you offer your house for sale to help you understand the types of conditions you will have to disclose and/or repair as a result of the sale of your home.
-If you are a Seller, be prepared to explain to potential buyers those items that must be disclosed. 
-Review the disclosure carefully before you consider purchasing a property for sale.  
-Use the disclosure to assist you in the inspection of the property being sold so that you can ask more informed questions of the Seller.  

When to Review and Revise 
-Change the information in the disclosure if repairs have been made to remedy and problems with the property.
-Amend the information provided in the event new information is obtained concerning the condition of the property.