What’s in a Seller Disclosure Form?
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Disclaimer: I’m not an attorney. The information below is for reference purposes only. For contract questions and advice, consult a SC Real Estate Attorney.
The Seller Disclosure Form details seller-known property defects, renovations, age of systems in the home, and other issues that involve the property.
It’s a required form to be given to the homebuyer at the time of the contract.
I recommend reviewing the Seller Disclosure and asking questions before writing an offer to purchase.
I also recommend getting a home inspection. There may be issues the seller is unaware of.
Some sellers opt not to complete the form for many reasons; the most common is that the property was a rental or an estate, and the seller is unaware of conditions affecting the property.
There are many blanks and check boxes on the form for the seller to disclose problems - past or current such as :
- ROOF, CHIMNEYS
-FLOORS
-FOUNDATION
-BASEMENT
-STRUCTURAL COMPONENTS AND MODIFICATIONS OF THESE STRUCTURAL COMPONENTS
-PLUMBING
-ELECTRICAL
-HEATING, COOLING, AND OTHER MECHANICAL SYSTEMS
-PRESENT OR PAST INFESTATION OF WOOD DESTROYING INSECTS OR ORGANISMS
-DRY ROT OR FUNGUS, THE DAMAGE FROM WHICH HAS NOT BEEN REPAIRED
-ZONING LAWS
-PRESENCE OF RESTRICTIVE COVENANTS
-BUILDING CODES, AND OTHER LAND USE RESTRICTIONS AFFECTING THE REAL PROPERTY
-ENCROACHMENTS OF THE REAL PROPERTY FROM OR TO ADJACENT REAL PROPERTY
-NOTICE FROM A GOVERNMENTAL AGENCY AFFECTING THIS REAL PROPERTY
-BURIED, UNBURIED, OR COVERED PRESENCE OF THE FOLLOWING:
- LEAD HAZARDS
- ASBESTOS
- RADON GAS
- METHANE GAS
- STORAGE TANKS
- HAZARDOUS MATERIALS
- TOXIC MATERIALS
- ENVIRONMENTAL CONTAMINATION
In addition to the above, the Seller Disclosure asks the homeowner to disclose Violations or Variances of the following:
- Zoning laws
- Restrictive covenants
- Building code violations
- Permits or other land use restrictions affecting the property
- Easements (access, conservation, utility, other)
Other questions on the Seller Disclosure include:
- Existence of party walls
- Shared private driveway
- Private roads
- Released mineral rights, or encroachments from or to adjacent real property
- Legal actions
- Claims, foreclosures, bankruptcies, tenancies, judgments, tax liens, other liens, insurance issues, or governmental actions that could affect title to the property
- Room additions or structural changes to the property during your ownership
- Drainage, soil stability, atmosphere, or underground problems affecting the property
- Problems caused by fire, smoke, or water to the property during your ownership
- Erosion or erosion control affecting the property
- Flood hazards, wetlands, or flood hazard designations affecting the property
- Flood insurance covering the property
- A Meter Conservation Charge
While not required...
Ask your agent if the seller has a current property survey – they are not required to give this to you, but I feel it’s very important. A property survey shows boundary lines, any encroachments, flood zones... If not available, or the sellers’ survey doesn’t show additions such as a fence, pool, or other structures, I recommend purchasing your own survey and having your closing attorney review it before the contract Due Diligence Expiration Date.
That was a lot to cover. As you can see, the seller disclosure asks a lot of good questions on behalf of the home buyer,
but it's not a substitute for a home inspection. There may be hidden issues the seller is unaware of.
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