Ann Arbor Michigan Residential Real Estate Sales Disclosure Statement

• Category: Michigan Real Estate - Home Sale
• State: Michigan
• City: Ann Arbor
• Control #: MI-37014
• Format: Word; PDF; Rich Text

Description

This form is a Seller's Disclosure Statement for use in a residential sales transaction in Michigan. This disclosure statement concerns the condition of property and is completed by the seller. The Ann Arbor Michigan Residential Real Estate Sales Disclosure Statement is a legal document that provides essential information about the condition and history of a residential property in Ann Arbor, Michigan. It is a mandatory disclosure that sellers must provide to potential buyers. This disclosure statement aims to promote transparency and protect the interests of buyers by alerting them to any known defects, issues, or potential hazards associated with the property. It helps buyers make informed decisions and ensures that sellers do not withhold crucial information that may influence the purchase. Key Keywords: Ann Arbor, Michigan, Residential Real Estate, Sales Disclosure Statement There might be different types of Ann Arbor Michigan Residential Real Estate Sales Disclosure Statements, depending on the type of property or its specific characteristics. These additional types include: 1. Condominium Disclosure: This variant focuses on providing information specific to condominium units, such as common area assessments, bylaws, rules and regulations, financial statements, reserve funds, and any pending legal actions. 2. Lead-Based Paint Disclosure: This type of disclosure is required for properties built before 1978. It informs potential buyers about the presence of lead-based paint or lead-based paint hazards, along with relevant documentation, pamphlets, and reports. 3. Homeowners Association (HOA) Disclosure: If a residential property is part of a homeowners' association, this disclosure statement outlines the association's rules, regulations, fees, covenants, conditions, and restrictions that may apply to the property. 4. Water/Sewer Disclosure: This specific disclosure focuses on the source of water supply and sewer system. It provides information regarding whether the property is on a well or connected to a public water supply, as well as details about the type of wastewater treatment system in place. 5. Natural Hazard Disclosure: This disclosure highlights any known natural hazards that may affect the property, including flood zones, wildfire risks, earthquake zones, or land instability due to soil conditions. These additional disclosure statements address specific aspects to ensure buyers have a comprehensive understanding of the property and its associated liabilities.

The Ann Arbor Michigan Residential Real Estate Sales Disclosure Statement is a legal document that provides essential information about the condition and history of a residential property in Ann Arbor, Michigan. It is a mandatory disclosure that sellers must provide to potential buyers. This disclosure statement aims to promote transparency and protect the interests of buyers by alerting them to any known defects, issues, or potential hazards associated with the property. It helps buyers make informed decisions and ensures that sellers do not withhold crucial information that may influence the purchase. Key Keywords: Ann Arbor, Michigan, Residential Real Estate, Sales Disclosure Statement There might be different types of Ann Arbor Michigan Residential Real Estate Sales Disclosure Statements, depending on the type of property or its specific characteristics. These additional types include: 1. Condominium Disclosure: This variant focuses on providing information specific to condominium units, such as common area assessments, bylaws, rules and regulations, financial statements, reserve funds, and any pending legal actions. 2. Lead-Based Paint Disclosure: This type of disclosure is required for properties built before 1978. It informs potential buyers about the presence of lead-based paint or lead-based paint hazards, along with relevant documentation, pamphlets, and reports. 3. Homeowners Association (HOA) Disclosure: If a residential property is part of a homeowners' association, this disclosure statement outlines the association's rules, regulations, fees, covenants, conditions, and restrictions that may apply to the property. 4. Water/Sewer Disclosure: This specific disclosure focuses on the source of water supply and sewer system. It provides information regarding whether the property is on a well or connected to a public water supply, as well as details about the type of wastewater treatment system in place. 5. Natural Hazard Disclosure: This disclosure highlights any known natural hazards that may affect the property, including flood zones, wildfire risks, earthquake zones, or land instability due to soil conditions. These additional disclosure statements address specific aspects to ensure buyers have a comprehensive understanding of the property and its associated liabilities.

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