Friday, September 28, 2007

Whose turn is it to fill out the Seller Disclosure Statement?

It's always the Seller's responsibility to fill out this form, and every seller must fill one out.

Why? It is for the Seller's protection, and it is also for the real estate agent's protection. It's about liability.

What if the Seller doesn't know about whether or not a certain condition exists on his or her property, like if there are any known problems or repairs needed on the property? A seller is to fill out the form to the best of their ability. You can research the information by finding out more from the title insurance records or calling City Hall, or just by looking through your property for those items.

Also, if you want to sell your property on your own, a "FSBO" (For Sale By Owner), it is Washington state law that you give the Seller Disclosure Statement to your buyer.

You learn something new every day, hm?

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