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What is a seller legally obliged to reveal?

Important and relevant issues which need disclosing are: Flooding issues, whether current or historic. Any known structural issues concerning the property. Proposals for nearby development and construction (if applicable) A planned flight path nearby or one which is planned.

Why is a property disclosure statement important?

The PDS can give potential home buyers an insight into the condition of the property and anything that may negatively affect the homes value. The PDS allows the seller(s) to disclose details about their home to prospective purchasers.

Is sellers disclosure mandatory in Michigan?

In Michigan, the seller of a residential property has an obligation to disclose certain information to the buyer of the property in what is commonly referred to as a Sellers Disclosure Statement. The Seller Disclosure Act, MCL 565.951, et seq.

What has to be disclosed when selling a house in Michigan?

The form is essentially a checklist asking you to indicate the condition of various features of the property, such as appliances, roof, basement, and HVAC systems, and known problems affecting it, such as encroachment issues, environmental issues, and pending legal issues.

Is GA a disclosure state?

No disclosure form required Unlike some other states, Georgia does not require a seller to fill out a disclosure form. However, Georgia law does require a seller to inform a potential purchaser about any known material defects affecting the home.

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Is Georgia a disclosure state?

Georgia, like most other states, has disclosure obligations that require the sellers of commercial and residential real estate to reveal to potential buyers certain defects that exist. The state enacts these requirements in order to ensure buyers can make as informed purchase decisions as possible.

Do you have to disclose asbestos when selling a house in Washington?

The seller must also disclose any substances, materials, or products in or on the property that could be environmental concernssuch as asbestos, formaldehyde, radon gas, lead-based paint, fuel or chemical storage tanks, or contaminated soil or water.

Do you have to disclose mold when selling a house in Washington state?

Sellers are required by law to disclose material defects about residential property in the seller disclosure form in Washington state. Completing the form is essential since it tells most about the condition of the property before the purchase is made. As stated in Section 64.06.

Is a property disclosure statement used in Georgia?

Sellers Required Disclosures in Georgia Although Georgias statutes do not require sellers to fill out a disclosure form, Georgia courts have stated that home sellers must inform buyer about any latent or known material (important) defects in the condition of the home.

What is the Michigan disclosure form?

A Michigan property disclosure statement is a form through which sellers must report the condition of their residential real estate to potential buyers. The items specified may include pending legal cases, unpaid fees, property defects, or damage from flooding or fires.

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Is Georgia a disclosure state?

Do you have to disclose asbestos when selling a house in Washington?

Do you have to disclose mold when selling a house in Washington state?

Is a property disclosure statement used in Georgia?

What is the Michigan disclosure form?

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What is a seller legally obliged to reveal?

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Is Georgia a disclosure state?

Do you have to disclose asbestos when selling a house in Washington?

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Is a property disclosure statement used in Georgia?

What is the Michigan disclosure form?

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