The Seller’s Disclosure Statement

Leonard “Len” Dunikoski, SRES
Realtor Associate
Diane Turton Realtors – Rumson Office
8 West River Road
Rumson, NJ 07760

(732) 239-0739 (cell)
(732) 530-6686 (office)

If you haven’t bought or sold a house in the last few years you may not be familiar with a form caller the Seller’s Property Condition Disclosure Statement. This standard form, created by the New Jersey Association of Realtors, asks 107 questions about the property that’s being sold. The seller is under an obligation to disclose any known material defects in the property that’s being sold, whether or not the defect is addressed in the printed form. Although a New Jersey seller has no legal obligation to use the standard form, most sellers do fill it out and most buyers expect to see it.

The form covers the most common types of problems associated with houses, i.e., termites, structural items, plumbing, water, sewage, heating and air conditioning, electrical system, land drainage, radon gas and other environmental hazards, condition of major appliances, etc. The seller can answer “Yes”, “No” or “Unknown” to each of the questions on the form. For example, under ROOF there are questions such as: Has roof been replaced or repaired since seller bought the property? Are you aware of any roof leaks?

The seller is the source of all of the information contained in the Disclosure Statement. However, even with a Disclosure Statement, it’s still the prospective buyer’s obligation to carefully inspect the property and the surrounding area and to hitre qualified experts to inspect the property.

If you’d like a copy of the Seller’s Property Condition Disclosure Statement form I’d be happy to send you one. Just email me at ldunikoski@dianeturton.com and ask for one.

Advertisements
This entry was posted in Fair Haven Local Expert, Fair Haven Real Estate, Rumson Local Expert, Rumson Real Estate, Rumson Realtor and tagged . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s