Seller Disclosure Statement

by Steve Meyers

My 29th, 2017

The Seller Disclosure Statement is a document required to be transmitted to buyers in every real estate transaction in the State of Washington, except if a court appoints an executor of an estate, who has no knowledge of the property.

The seller must answer every question on the Seller Disclosure Statement correctly.  If any question is left blank, the document is not complete and the contract is voidable by the buyer up until the Closing of the transaction and, the earnest money may be returned to the buyer.  The seller must not only answer every question but, some of the answers may require detailed explanation of their response.

The Listing Agent is required to review the Seller Disclosure Statement in detail.  The Listing Agent should assure that every question is answered properly.  Questions that need additional comments should be attached to the Seller Disclosure Statement.  If you, as the Listing Agent, knows an answer to be incorrect, you should ask the seller to make the correction.  If the seller refuses, you can allow the document to be released but, you’re required by Washington State Statutes to communicate your concerns to each buyer as soon as possible regarding that issue if it may be a “Material Fact” or “Material Defect” of the property.  “Material Facts” and “Material Defects” are defined in the RCW’s (Revised Codes of Washington).

Disclaimer:  I’m not an attorney or accountant.  I advise you to seek the advice of an attorney and/or an accountant to review and evaluate the Seller Disclosure Statement and provide you with their professional opinion.

If you have any comments or questions about this article, please email me at smeyers@kw.com.

Steve Meyers is a Managing Broker at Keller Williams Real Estate in Seattle, Washington.  He can be reached at (206) 972-3328 or smeyers@kw.com.

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