Seller’s Property Condition Disclosure
December 8th, 2007 Categories: Real Estate News
Seller’s Property Condition Disclosure
One of the documents used in selling a home is the Seller’s Property Condition Disclosure.
Seller is obligated under law to disclose to buyers defects in the property known to seller that materially and adversely affect the value of the property that cannot be discovered by a reasonable inspection by an ordinary prudent buyer. This disclosure form is designed to assist seller in complying with these disclosure requirements. Please thoroughly disclose your actual knowledge regarding the condition of the property.
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The disclosure statements are silent when it comes to past problems that have been corrected and no negative impact remains. I would assume not required to be reported. My wife’s instructors in the new REPC indicated otherwise. I would like to know where to locate the legal requirements in both the Utah Statutes and in the U.A.C. (Utah administrative code).
Randy most of the questions on the disclosure ask about past and present. I do not consider that silent. If you have repaired something then the answer to “Are you aware of any past or present problems with ____________” is yes. Then repairs should be noted
For example 12.B
Are you aware of any damage to the Property caused by termites, dry rot, rodents, or pests?
If “Yes”, please describe, to your knowledge, the nature and location of any such damage and any efforts to mitigate such damage:
I think not disclosing things that may have been corrected and are not an issue is a fine line. I would disclose. You have nothing to lose by saying the water heater broke and you replaced it.
I think to try and hide anything is just bad practice no matter how trivial it may seem, especially if you are putting it in writing.
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