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Seller Disclosure Laws The law in Kentucky states that sellers must reveal any known material defects of a property that may affect its value or desirability. The completion of this form by a seller, however, is not the same as a professional inspection.
A licensee shall provide a buyer with the agency disclosure form at the first substantive contact or a copy of the form may be sent.
If selling a home in the Bluegrass State, youll need to be mindful of Kentuckys disclosure requirements. Sellers of residential property are required by state law to disclose to prospective buyers certain defects with their home that could impair its value.
The Property Condition Disclosure Act requires the seller of residential real property to cause this disclosure statement or a copy thereof to be delivered to a buyer or buyers agent prior to the signing by the buyer of a binding contract of sale.
If selling a home in the Bluegrass State, youll need to be mindful of Kentuckys disclosure requirements. Sellers of residential property are required by state law to disclose to prospective buyers certain defects with their home that could impair its value.
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1) When must a licensee provide an agency disclosure to a prospective client? - The listing agent must provide the disclosure to the seller prior to securing the listing agreement.
If the licensee is a sellers agent, the licensee is required to give an Agency Disclosure statement to a buyer before assisting the buyer in preparing the offer or at the time the offer is being presented to the sellers agent by the buyer. 1.
You need only disclose defects or conditions about which you actually know, based on your observations and having lived in the property.
The Seller Disclosure of Property Condition applies to all sales and purchases of residential real estate in Kentucky, except for in the case of a court supervised foreclosure, a sale of real estate at auction or residential purchases of new homes if a warranty is offered.
Terms in this set (25) the licensee is the seller. -- The only time a licensee should fill out the Sellers Property Condition Disclosure or disclaimer forms is when he/she owns the property.

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