Sellers Property Condition Disclosure Statement: Fill & Download for Free

Yes.There's a document called a SPDS ( Seller's property disclosure statement) the seller must fill out that discloses any known defects that could affect the value of the property. In my state, there is no requirement to disclose deaths, “hauntings", crimes. But in any state, the seller must disclose anything wrong with the property and certainly a furnace that's not working.Of course, just because it's required by law doesn't mean some people will actually do it. They will try and say they weren't aware, which is why you have a thorough inspection. That should include pest inspection, at least a quick look at the roof, and possibly radon or the septic system or well if you have one.If youre working with an agent, they will explain all this to you. All the more reason to work with one.

It depends on the state/jurisdiction, and it depends on what you mean by “nuisance.”The great majority of the time, in most jurisdictions, the seller can’t get into trouble for disclosure-related failures whenever the issue is something that is of public record, or otherwise available for the buyer to see (with very limited exception). The buyer’s job is to do her due diligence on anything she finds material, as the seller has no duty to know a buyer’s specific material aspects and is only obligated to follow general real property transfer laws and the stipulations in the contract.Some states have specific laws where the seller must disclose things such as noise, odors, etc - some considered private nuisance, some considered public nuisance - also defined differently by jurisdiction.Here are a few samples of state disclosures and their requirements, and what you should look for in your specific state to know what the state legislature has to say about similar disclosures in your jurisdiction:Georgia Real Estate Commission. "Stigmatized Properties."State of North Carolina. "Residential Property and Owners' Association Disclosure Statement -- Instructions to Property Owners."Michigan Legislature. "Seller Disclosure Act (Excerpt), Act 92 of 1993, 565.957 Disclosure Form, Section 7."Texas Real Estate Commission. "Seller's Disclosure Notice."Missouri Realtors. "Disclosure Forms Index."NYS Department of State, Division of Licensing Services. "Property Condition Disclosure Statement."California Legislative Information. "Civil Code, Division 2. Property, Part 4. Acquisition of Property, Title 4. Transfer, Chapter 2. Transfer of Real Estate Property, Article 1.7. Disclosure of Natural and Environmental Hazards, Right-to-Farm, and Other Disclosures Upon Transfer of Residential Property."

Three little letters: TDS. The Transfer Disclosure Statement is NOT REQUIRED to be filled out by a bank. That means any conditions of the property which should be properly disclosed by a private party seller are not stated up front. All the burden of determining not only the condition of the property but also any legal issues, community problems, title problems, etc. is on you. Your agent better be a battle-hardened veteran who can walk you through the process or you could end up with something that you will pay dearly to get rid of.At this point in time (2017), bank owned properties are usually the dregs of the market. Many people jump on them because they hope for a deal. In a seller’s market you don’t get paid nearly enough (discounted price) for the risk you’re taking on.Proceed with caution and always buy a title insurance policy from a top company (not necessarily the title company the bank prefers).Good luck!