Oklahoma Material Fact is a disclosure document mandated by the Oklahoma Real Estate Commission (ORES) for certain real estate transactions in Oklahoma. It is designed to provide buyers and sellers with important information about the property and the transaction. The Oklahoma Material Fact document is intended to be used in conjunction with standard real estate contracts. The Oklahoma Material Fact is composed of two parts. The first part is known as the “Property Disclosure Statement” and includes information about the property such as its condition, its history, and any known defects. The second part is known as the “Seller’s Property Condition Disclosure Statement” and includes information about the seller and their interest in the property. There are two types of Oklahoma Material Fact: the Property Disclosure Statement and the Seller’s Property Condition Disclosure Statement. The Property Disclosure Statement is required to be provided by the seller of any residential real property in Oklahoma. The Seller’s Property Condition Disclosure Statement is required to be provided by the seller of any residential real property in Oklahoma that was built before 1978.