Washington Seller's Disclosure Form
Seller Disclosure Law - It is a part of a chapter in Title 64 of the RCWs; http://apps.leg.wa.gov/RCW/default.aspx?cite=64.06&full=true
Revised Code of Washington
Residential Property Only - The property disclosure statement law only applies to sellers of residential real property. When the seller of a residential dwelling puts their home up for sale, the seller must disclose the characteristics and problems associated with their home. This is done on the State's property disclosure statement form 17. Residential real estate includes the following:
Up to 4-Plex - Residential housing would include family living units from one to four dwelling units. Any owner of a 4-plex (4 residences) would have to abide by the property disclosure statement law. Single residence, duplex, triplex, and a 4-plex.
Condominium Requirements - Residential condominiums sold by the owner are not covered by the public offering statement requirement of the Washington Condominium Act. The seller does not have to offer a POS. The owner/seller does have to follow the property disclosure statement law instead.
Time-Shares Exempt - Residential time-shares are not covered by the written disclosure laws. The reason is because the time-share act is more stringent than the property disclosure statement law.
Seller's Disclosure LawThe Property Disclosure Statement requirement does not have to be provided by the seller under the following circumstances:
Example: A rent to buy contract. The vendee is not taking title to the property until later.
Non-Exempt Transfer - If a sale, gift, or transfer is not one of the former exempt transfers, the Seller's Property Disclosure Statement Form shall be filled out by the seller unless the buyer has expressly waived their right.
Example: A buyer desires the home as soon as possible and the seller is overseas somewhere. If the buyer signs a document waiving their right to the form, the sale can proceed.
Not Part of the Sales Agreement - The disclosure form is not to be construed to be part of any written agreement between the buyer and seller. The form is:
The Buyer - Once reading the disclosure form, the buyer can request repair, back out of the transaction, or accept the property as is.
When selling a residence, the seller must provide the Seller's Disclosure Statement if:
A) Selling to their son
B) Selling to a time share
C) Gifting property to a charity
D) Selling to a friend
When a buyer and seller agree on a sale, the Seller's Disclosure Statement must be delivered:
A) To the buyer within 5 days
B) To the buyers' agent within 10 days
C) To the escrow company within 10 days
D) To the real estate division within 10 days
Which of the following would finalize the Seller's Disclosure Statement?
A) 5 days
B) 10 days
C) Escrow closing
D) It is never finalized
A buyer has ______days to review and respond to the Sellers Disclosure Statement.
When it comes to homes built prior to 1978, the seller must allow the buyer a _________ right of inspection for lead unless they both agreed otherwise.
A) 3 day
B) 5 day
C) 10 day
D) 15 day
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