What the Seller Disclosure Property Is and When It Applies
Seller Disclosure Property is a standardized real estate disclosure form used by sellers to disclose known material facts, defects, and conditions about a residential or commercial property to prospective buyers. It summarizes items such as structural issues, water intrusion, plumbing or electrical problems, presence of lead-based paint, environmental hazards, ongoing repairs, permits, liens, and neighborhood disclosures. The document helps align buyer expectations, creates a written record of seller representations, and becomes part of the transaction file for closing and post-closing reference.