SELLER'SPROPERTY DISCLOSURE FORM FOR THE BUYER
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Your Purchase Contract will require that the seller make a complete Property Disclosure Statement available to the buyer. On this form, the seller notifies the buyer of the condition of his home and of any known items in the home that are not properly functioning, any known neighborhood zoning problems, and other items that could cause concern to the buyer. This disclosure must be approved or disapproved by the buyer and the seller, within the time limits specified in the Purchase Contract.
When buying, we strongly recommend that you hire an appropriately designated home inspector to conduct a thorough investigation of your property, regardless of what you see in the property disclosure form. Perhaps we should not just stronlg recommend it, but rather insist on it. You should be there at the time of the inspection so that you can understand the findings and to have questions answered. The approximate time of the inspection varies depending upon the size of the home. The inspector will give you a written report as to the condition of the property. The purpose of this inspection is to give you a professional opinion of the home. You will be given a list of items that are not properly working, many will be unimportant, but some may be very important.
Depending on the type of purchase contract you submit, you may make a written request to the seller to correct any defects that are unacceptable to you. Unfortunately, no house is perfect, not even a new one, and often the condition of a home is a reflection of the price you paid. Frequently, sellers will live with minor problems in a home for years and may be unwilling to correct some of the "little things". If you and the seller are not able to come to an agreement, you may rescind the transaction within the time limits specified in your Purchase Contract.
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