CHAPTER 17 What Has to Be Disclosed o Be Disclosed When Selling a Home
A real estate transaction includes obligations and responsibilities for all the parties involved, whether you are a buyer or a seller, represented or not by a real estate broker. One of them is the responsibility of the seller of a property to declare everything he knows about his property to enable a buyer to make an informed decision. The Declarations by the seller of the immovable (DS) form, mandatory since July 2012, must be used for all transactions involving the sale, by a natural person, of a chiefly residential immovable containing less than 5 dwellings, including immovables held in undivided co-ownership. The form Declarations by the seller of the immovable provides the buyer with details on the condition of your property. Your broker will complete it with your help, at the time of signing of the brokerage contract. This document will form an integral part of your brokerage contract, to which it must be annexed. It is a guarantee of safety both for you – to avoid legal action down the road. If you refuse to complete or sign this form, the broker will simply not be able to carry out the brokerage contract with you. In fact, this form will need to accompany any Promise to purchase .
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