Real Estate 101: Seller’s Property Disclosure
We are continuing on the mission to make sure you are well educated and ready for anything in your real estate transaction!
In Colorado it is a requirement that all sellers and agents disclose any material facts that are known about a house either before or while the real estate transaction is going on.
One way this takes place is through a form called the seller’s property disclosure.
This is a checkbox form which contains several different categories like water heater, furnace, roof, etc.
Should the seller be aware of any issues with any areas of the home, they will check yes on the form and also describe the nature of the problem and any measures they may have taken as a remedy.
You can expect this form right away in your real estate transaction: usually one or two days after you are under contract, but perhaps even before you have a contract in place. This form allows you to make an informed decision and determine if this house is the right one for you or maybe some special things you might want to pay closer attention to during your inspection time.
If you are getting starting on your journey, I am here to answer any questions you have and get you off on the right foot!
Let’s grab that good life together!!