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What is the purpose of a disclosure statement in real estate?

Full question:

What is a disclosure statement?

Answer:

A disclosure statement in real estate is a form that sellers must complete. It informs buyers about any defects and important information regarding the residential property.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

A disclosure statement is a document that sellers of residential property must provide to potential buyers. It details any known defects, issues, or important information about the property that could affect the buyer's decision. This transparency helps buyers make informed choices.

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