RESIDENTIAL PROPERTY CONDITION DISCLOSURE ACT
 

On July 1, 1995, the Residential Property Condition Disclosure Act became effective. The act requires that any seller of one and/or two dwelling units who is:

1) represented by a real estate licensee; or

2) not represented by a real estate licensee but who receives a written request from a prospective purchaser,

must complete and make available to the purchaser a Residential Property Condition Disclosure Statement or a Residential Property Condition Disclaimer Statement.

The intent of the law is for the seller to inform a prospective purchaser about the condition of the property. The law provides that a completed disclaimer or disclosure form is valid for 180 days. After the expiration of 180 days, the seller is required to complete a new form.

The seller should deliver either statement to the purchaser as soon as practicable, but in any event it shall be delivered before the seller accepts an offer to purchase.

The disclosure form includes identifications of items and improvements which are included in the sale and whether the items or improvements are in normal working order. The disclaimer form makes three statements:

1) the seller has never occupied the property;

2) makes no disclosures relating to its condition; and

3) the seller has no actual knowledge of any defect concerning the property.