Most states require the Seller to inform the Buyer of known problems and other facts about the property. This requirement is met by attaching one or more Seller's Disclosure Forms to the real estate Sales Contract.
Disclosure forms are essentially lists of questions to which the seller can answer, "yes", "no" or "don't know." Examples of the types of questions are shown below:
Know Problems.Sample:
Yes
No
Don't Know
15. Has there been fire, wind, or flood damage that required repair?
___
___
___
17. Are you aware of any past or present leaks in the roof?
___
___
___
etc.
___
___
___
Natural Hazards. Sample:
Yes
No
Don't Know
36. Is property in an earthquake fault zone?
___
___
___
etc.
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___
___
Special Hazards. Sample:
Yes
No
Don't Know
38. Is property within one mile of past or present military training facility that may contain potentially explosive munitions?
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___
___
etc.
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___
___
Note: "Don't know" is an acceptable answer. The purpose of disclosure is to make the Seller tell what he or she knows, not to force a research project (except in California where the state understandably requires Sellers to find out if their property is in an earthquake zone).
Seller warrants that they neither have knowledge of, nor records or reports pertaining to lead-based paint and/or lead based paint hazards in the property.
As Purchaser of Property in this community, you will be obligated to be a member of a homeowner’s association and subject to restrictive covenants governing the use and occupancy of properties in this community.
You will be obligated to pay assessments to the association and failure to pay these assessments could result in a lien on your property.
Note:(Megan's Law) Some states require a statement as to how the Buyer can find out if known sexual offenders are residents of the neighborhood.
Forms to cover most of the above are available from Office Max, Staples and other large office supply stores. Our our set of Forms & Contracts includes three forms to cover all of the above, including Megan's law. You can download the kit to your computer or we can mail it to your home.
State Specific Forms & Contracts:
Led by California and Texas, several states now specify special disclosure forms that go beyond the generic forms & contracts available at office supply chains such as Office Depot and Staples. For these states Audrie.com provide special contracts designed to meet state requirements.
Most states also require Sellers to meet Fair Housing and Anti-Discrimination requirements that make it illegal to choose a Buyer based on race, gender, religion, national origin or life-style.
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