What is a seller’s disclosure statement?

A seller’s disclosure statement is a document that outlines the condition of a property in Virginia when it is being sold. This document is required by law in Virginia and contains information about the property, such as any known problems or defects, the age of the property, any repairs or improvements that have been made, and any environmental, health, or safety hazards. The seller’s disclosure statement must be obtained from the seller before any sale is finalized, and this allows the potential buyer to make an informed decision on the purchase. The seller must be honest and accurate in the information they provide, as they may be held responsible for any issues related to the property that are not disclosed in this document. The buyer has a legal right to review this document and to ask for more information if needed. It is also important for the buyer to understand that a seller’s disclosure statement is not a warranty of a property’s condition, but rather just a record of what is currently known.

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What is a seller’s disclosure statement?

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