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You've decided to sell your house - congratulations! Once you select a real estate agent to work with, including selling a fire-damaged home in Washington, a slew of questions will start rolling in. When did you purchase your house? Are there any material defects? Is there more than one residential dwelling unit? Do you have your previous purchase and sale agreement? Have you made any improvements?
All these questions are more will be asked on the seller disclosure statement or seller disclosure form. What do you have to disclose on these statements during a real estate transaction in accordance with Washington law?
Filling out a disclosure form is an essential part of a real estate transaction as a seller of a residential property. These forms are filled out based on a seller's actual knowledge of the property.
In Washington state, the needed material defects or existing material facts that a seller will add to a disclosure statement include:
These are just a few of the disclosure requirements that you, as a seller, will find on the required disclosure forms.
Be as honest as possible on your disclosure form because a buyer will most likely conduct a property inspection as allowed in many, if not all, real estate transactions according to Washington state law. Final inspections conducted on your home will reveal any material defects.
Some things you don't have to disclose:
If you are not selling a residential property, you still will have a disclosure statement. Commercial properties still require a disclosure statement unless the buyer agrees to waive receipt of the disclosure forms during your real estate transaction.
Specific residential condominiums also will have their own disclosure statement and seller disclosure requirements that you will need to fill out on the buyer's behalf.
Residential timeshares also fall into this category of needing additional disclosure statement forms.
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If you have any questions about your real estate and what you should include on the disclosure form, ask! Your real estate agent will be happy to help.
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