What is the “Property Condition Disclosure Statement”?

Updated March 13, 2023.

This is a form the seller is required to complete and provide to a prospective buyer before the buyer makes a purchase offer. It is intended to communicate certain information to a prospective buyer regarding the seller’s knowledge of the condition of the property. The seller is not expected to investigate or research any of the questions raised in this form. However, the seller is obligated to fully and completely disclose any requested information to the best of his/her knowledge. As such, it is important for the seller to be truthful and as accurate as possible. Nevertheless, while this statement can give a buyer a better understanding of the property, it should not be relied upon as a complete, accurate or definitive statement. In the event the seller fails to provide a completed Property Condition Disclosure Statement, the buyer may be entitled to receive a $500.00 credit at closing from the seller.

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