Property disclosure form 2025

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Sellers Will Be Exposed To Liability Even After Closing may subject the seller to claims by the buyer prior to or after the transfer of title. That means buyers can sue sellers after closing. And the statute of limitations on these claims may be as long as six years.
A sellers disclosure is a real estate document that provides details about a propertys condition and how it might negatively impact the value of the home. It is often required by law, though what it needs to contain can vary by state and locality.
NY Statute Mandating Disclosure of Material Defects It requires home sellers to make certain disclosures about material defects in the property or pay a credit of $500 to the home buyer at closing. Many if not most home sellers in New York actually opt not to complete the statement, and instead pay the credit.
Disclosure Law in Connecticut for Home Sales Connecticut General Statutes 20-327b requires that residential sellers make certain disclosures to a potential buyer. The statute applies regardless of whether a licensed salesperson or broker is involved in the transaction.
New York State law requires real estate licensees who are acting as agents of buyers or sellers of property to advise the potential buyers or sellers with whom they work of the nature of their agency relationship and the rights and obligations it creates.
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Real Property Law 462 states that every seller of residential real property pursuant to a real estate purchase contract shall complete and sign a property condition disclosure statement The statute does not distinguish whether each seller must deliver its own PCDS or if all sellers may complete and execute the
General Instructions: The Property Condition Disclosure Act requires the seller of residential real property to cause this disclosure statement or a copy of thereof to be delivered to a buyer or buyers agent prior to the signing by the buyer of a binding contract of sale.

bc property disclosure statement pdf