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It is Right There in Black and White

It is Right There in Black and White

posted: 01/27/2020

Let's review some requirements listed on page one of the Property Condition Disclosure Statement (PCDS) that are sometimes overlooked or forgotten:

"...based on [the seller’s] actual knowledge of the property."
"...purchaser(s) may rely upon information contained herein when deciding to negotiate terms..."
"...is to be attached to the Listing Agreement and signed by the SELLERS(S).";
"...is [not] intended to be part of any contract between the seller and the purchaser."

If the residence is new (never occupied) or proposed residential construction and a real estate licensee is involved in the transaction, the building/owner/seller must complete the PCDS in its entirety and should reference specific plans/specifications, building material lists, and/or change orders.

DO NOT LEAVE ANY QUESTIONS UNANSWERED AND DO NOT LEAVE BLANK SPACES. "N/A" MAY BE USED FOR "NOT APPLICABLE" AND "UNK" MAY BE USED FOR "UNKNOWN."