What does a seller provide in a Property Disclosure Statement?

A Property Disclosure Statement is a crucial document provided by the seller in a real estate transaction, containing detailed information about the property being sold. This can include the condition of major systems (such as plumbing, electrical, and heating), disclosures about past repairs or issues (like water damage or pest infestations), and other information pertinent to the property's status.

The purpose of the Property Disclosure Statement is to inform potential buyers about the property's characteristics and any known concerns that may affect their purchasing decision. By providing this information, the seller helps ensure transparency in the transaction and assists buyers in making informed choices.

In contrast, information about local schools, buyer financing options, and property appraisals are not typically included in the Property Disclosure Statement and serve different roles in the real estate process. Local school information pertains to community information that may influence a buyer's decision but is not a direct disclosure about the property's condition. Buyer financing options are not related to the property disclosure but are instead a concern for the buyer's financial strategy. Appraisals provide a valuation of the property but do not encompass the condition or history that the Property Disclosure Statement covers.