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South Dakota Seller's Property Condition Disclosure Statement

South Dakota Seller's Property Condition Disclosure Statement 2025

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The document is a Seller's Property Condition Disclosure Statement required by law in South Dakota. It mandates the seller to disclose the condition of the property, including any known issues related to title, structural integrity, systems/utilities, hazardous conditions, and miscellaneous information. The seller must provide accurate information and update any material changes before the sale. It emphasizes that this disclosure is not a warranty and encourages buyers to seek professional inspections.

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When must an agency disclosure statement be given to a consumer?

Really, the disclosure is meant to be given to buyers BEFORE the agent acts as the buyers agent in any way, shape, or form and BEFORE the agent starts giving the buyer home buying advice.

When must a listing agent present the disclosure regarding real estate?

The listing agent must provide the disclosure to the seller prior to securing the listing agreement. The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer.

When must a sellers agent deliver a specified written agency disclosure form to the seller?

Prior to signing the listing agreement, the Listing Agent must deliver to the seller the Agency DISCLOSURE FORM.

What should a disclosure statement include?

In summary, a disclosure statement contains essential and critical information about the terms and conditions, terminologies used, and the main agreement between the parties in clear and straightforward language. It forms the part of legal documents and could be referred back in litigation.

What form is used to disclose the condition of the property to the buyer?

The (TDS) describes the condition of a property and, in the case of a sale, must be given to a prospective buyer as soon as practicable and before transfer of title.

Which of the following statements is true regarding acknowledgement of receipt of the disclosure statement?

Which of the following statements is TRUE regarding acknowledgement of receipt of the Disclosure Statement? The sellers and buyers agents are required to obtain from the seller or buyer a signed acknowledgment of receipt of the Disclosure Form.

When must an agent supply a written agency disclosure?

The law requires that an agent supply a written document, called Disclosure Regarding Real Estate Agency Relationships, explaining the nature of agency. This disclosure must be made prior to taking a listing or writing an offer.

When must a seller deliver the disclosure form to a prospective buyer quizlet?

- A sellers or landlords agent must provide the disclosure to a buyer, buyers agent, tenant or tenants agent at the time of first substantive contact. - A buyers or tenants agent must provide the disclosure to the buyer or tenant prior to entering into a buyers agency agreement.

South Dakota Seller's Property Condition Disclosure Statement 2025

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