What do you have to disclose when selling a house in Iowa?

Iowa code requires the seller to disclose all known conditions materially affecting the property. That can include everything from the roof to the basement, including sewer lines, the foundation, termites or other infestations, and any hazards such as radon and asbestos.

What type of information must be disclosed to the seller?

Examples of material facts that must be disclosed include structural problems with the house, soil problems, a leaking roof, unpermitted construction, neighborhood noise problems, and anything else that a buyer would deem to be important.

What does a seller s statement in a property disclosure document mean?

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.

Is a sellers disclosure required in Iowa?

Iowa Code 558A requires sellers to deliver written disclosure statements to a person interested in buying a property before they have made a formal offer or the offer has been accepted.

What is the seller disclosure law in Iowa?

Disclosure Law in Iowa for Home Sales The legal basis for this disclosure requirement is Iowa Code 558A, which requires you, as a seller, to deliver a written disclosure statement to a person interested in buying your property before they've made a written offer or you've accepted it.

What is Iowa Code Chapter 558A?

1. A person interested in transferring real property, or a broker or salesperson acting on behalf of the person, shall deliver a written disclosure statement to a person interested in being transferred the real property.

Is it bad if there is no sellers disclosure?

If a seller fails to disclose, or actively conceals, problems that affect the value of the property; they are violating the law, and may be subject to a lawsuit for recovery of damages based on claims of fraud and deceit, misrepresentation and/or breach of contract.

Is Iowa a full disclosure state?

Disclosure Law in Iowa for Home Sales The legal basis for this disclosure requirement is Iowa Code 558A, which requires you, as a seller, to deliver a written disclosure statement to a person interested in buying your property before they've made a written offer or you've accepted it.

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Q: What does a seller s statement in a property disclosure document mean?

A Seller&#039;s Disclosure is a legal document that requires sellers to provide previously undisclosed details about the property&#039;s condition that prospective buyers may find unfavorable. This document is also known as a property disclosure, and it&#039;s important for both those buying a house and for those selling a house.

IOWA RESIDENTIAL PROPERTY SELLER DISCLOSURE STATEMENT Property Address: PURPOSE: Use this statement to disclose information as required by Iowa Code chapter 558A. This law requires certain sellers of.

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