This form is a Seller's Disclosure Statement. This disclosure statement concerns the condition of property described in the document. The seller acknowledges that the information contained in the form is true and accurate.
Kansas Seller's Real Estate Disclosure Statement
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FAQ
A disclosure statement is a financial document given to a participant in a transaction explaining key information in plain language. Disclosure statements for retirement plans must clearly spell out who contributes to the plan, contribution limits, penalties, and tax status.
§ 58-30.106 states that you or your real estate agent must disclose to the buyer "all adverse material facts" that you actually know about the property,including: environmental hazards that affect it. its physical condition. any material defects in the property itself.
Unlike some states, Kansas law does not require a standardized seller property disclosure form, although real estate agents often use a form designed to encompass standard disclosures. A potential buyer should always carefully review each item in any disclosure statement provided by a seller.
But, there are 12 states that are still considered non-disclosure: Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah and Wyoming. In a non-disclosure state, transaction sale prices are not available to the public.
The federal government and individual states set disclosure requirements. The major disclosures required involve lead paint, asbestos, wetlands, and floodplain disclosures.
Here are eight common real estate seller disclosures to be aware of, whether you're on the buyer's side or the seller's side.Death in the Home.Neighborhood Nuisances.Hazards.Homeowners' Association Information.Repairs.Water Damage.Missing Items.Other Possible Disclosures.
The document provided by the seller that described the condition of the property is known as the Transfer Disclosure Statement. As a buyer, you should receive this document during the contract contingency period.
Remember that sellers and real estate agents must make the disclosures necessary to avoid fraud, misrepresentation or deceit. This section deals with the major disclosures required by the California Civil Code (commencing at Section 1102).
A Seller's Disclosure is a legal document that requires sellers to provide previously undisclosed details about the property's condition that prospective buyers may find unfavorable. This document is also known as a property disclosure, and it's important for both those buying a house and for those selling a house.
Federal regulations require the disclosure of all relevant financial information by publicly-listed companies. In addition to financial data, companies are required to reveal their analysis of their strengths, weaknesses, opportunities, and threats.