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Simply stated, the Transfer Disclosure Statement gives the Seller an opportunity to disclose information about the property that would be important for the potential Buyer to know. You, as the Seller of the property, are required to provide this document within 7 days of an accepted contract between you and the Buyer.
Notice to Seller: Florida law1 requires a Seller of a home to disclose to the Buyer all known facts that materially affect the value of the property being sold and that are not readily observable or known by the Buyer. This disclosure form is designed to help you comply with the law.
In Missouri, a seller is obliged to fill out a seller disclosure statement notifying the buyer of any defects that could affect the property's value. The Missouri law involves unique and specific disclosures that home sellers must disclose to the buyers.
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.
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