Mark Required Fields In Legal South Carolina Disclosures Forms For Free

The South Carolina Residential Property Condition Disclosure Act, the ?Act,? is a statute that requires that every seller of a residence must complete a statement disclosing any problems in the residence and provide a copy of the statement to a purchaser of the property.

Before you can form a real estate contract with a potential buyer for your South Carolina home, state law requires that you give that buyer a "disclosure statement." This is a document that tells the buyer about any known defects in your home and property. Defects come in all shapes and sizes.

SECTION 27-50-10. (1) ?Commission? means the South Carolina Real Estate Commission. (2) ?Disclosure statement? means a residential property condition disclosure statement written on a form as required by this article and as promulgated by regulations of the commission.

South Carolina Code of Laws Ann., Title 27, Chapter 50, Article 1 requires that an owner of residential real estate (single-family homes and buildings with up to four dwelling units) shall provide to a purchaser this property condition disclosure statement, which must be completed prior to signing a contract of sale.

Owner must provide the completed disclosure statement to the purchaser prior to the time the owner and purchaser sign a real estate contract unless the real estate contract states otherwise. Owner should provide a signed copy to the purchaser and keep a copy signed by the purchaser.

SECTION 27-50-250. Transfer of title of residential property subject to vacation rental agreement.