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Even though you've toured the property, seen the walls and ceilings, turned on faucets, flushed toilets, checked under the sinks, played with light switches - You haven't lived in it. The sellers have knowledge about their home and for this reason, you'll require statements from the seller as part of your offer.
The sellers property disclosure with inform you of any adverse conditions that may have a substantial impact on you decision to purchase their home. This would include any problems with the house, flood zones, noise zones or any other kind of hazardous area or problem.
In Las Vegas, your offer will require this statement, however, many states don't require sellers to provide this information to you. Bank owned properties will not have a sellers property disclosure. There is always a time frame in which the seller must provide this which is written into your "Offer to Purchase". |
