Seller disclosure statement

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In the United States, a seller disclosure statement is a form disclosing the seller's knowledge of the condition of the property. The seller disclosure notice or statement is anecdotal and does not serve as a substitute for any inspections or warranties the purchaser may wish to obtain. It also does not serve as a warranty of any kind. [1] Deliberate misrepresentation in the statement can result in liability. [2] Seller disclosure statements are not compulsory in New Mexico. [3]

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References

  1. http://www.trec.state.tx.us/pdf/contracts/op-h.pdf [ bare URL PDF ]
  2. David F. Hinkel. "Caveat Emptor and the Seller Disclosure Form" in Practical Real Estate Law. Seventh Edition. Cengage Learning. 2015. ISBN   9781285448633. Page 166.
  3. New Mexico Real Estate Basics. Dearborn Real Estate Education. 2003. ISBN   9780793160570. Section 4.B.1 at page 42.