Seller's Disclosure of Real Property Condition Report - Delaware

Seller's Disclosure of Real Property Condition Report is a legal document that was released by the Delaware Department of State - Division of Professional Regulation - a government authority operating within Delaware.

FAQ

Q: What is a Seller's Disclosure of Real Property Condition Report?A: A Seller's Disclosure of Real Property Condition Report is a document used in Delaware when selling a property to disclose any known defects or issues with the property.

Q: Why is a Seller's Disclosure of Real Property Condition Report important?A: It is important because it allows potential buyers to make an informed decision about purchasing the property by providing information about its condition.

Q: What type of information is included in the Seller's Disclosure of Real Property Condition Report?A: The report typically includes information about the property's mechanical systems, the presence of lead-based paint, foundation and structural issues, and any known environmental hazards.

Q: Who is responsible for completing the Seller's Disclosure of Real Property Condition Report?A: The seller of the property is responsible for completing the report and disclosing any known defects or issues.

Q: Are sellers required by law to provide a Seller's Disclosure of Real Property Condition Report?A: Yes, in Delaware, sellers are legally required to provide a Seller's Disclosure of Real Property Condition Report to potential buyers.

Q: What happens if a seller fails to provide a Seller's Disclosure of Real Property Condition Report?A: If a seller fails to provide the report, the buyer may have legal recourse, such as the right to terminate the purchase agreement or seek damages for any undisclosed defects.