State Laws
Seller Duties – The seller is required to provide the buyer with either a property disclosure statement outlining all known material defects of the property or a property disclaimer statement that the property is being sold “as is” without any warranty.[1]
Agent Duties – A licensed agent of either the seller or the buyer have a duty to inform the parties of their rights and obligations as required by law.[2]
Non-Material Disclosures – The seller or their agent cannot be held liable for not disclosing any acts that have occurred on the property that had no physical effect on the property or its physical environment, such as a homicide, suicide, or felony.[3]
Seller’s Disclosures (4)
 Residential Property Condition Disclosure (required) – Informs buyers of the material condition of a property. The seller is legally obligated to provide this disclosure to the buyer unless the buyer waives their right by signing a Waiver (see below).
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 Waiver of Property Condition Disclosure (conditional) – Creates an arrangement where the buyer willingly waives their right to receive a property condition report. If signed by both parties, the buyer agrees to purchase the property “as is.”
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 Lead-Based Paint Disclosure (conditional) – Provides buyers with information on whether or not a home contains lead-based paint. Use of the form is only necessary for the sale of properties erected before 1978.[4]
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 Lead-Based Paint Pamphlet (conditional) – Gives general information about lead-based paint for properties built before 1978.[5]
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