The Property Disclosure Statement is one of the forms commonly used in real estate transactions in British Columbia. This form is where sellers disclose facts about the condition of the property so that buyers can make an informed decision when considering purchasing the property.
The form is different depending on the type of property concerned. For example, there are different questions found on the property disclosure statement for strata properties compared to non-strata properties.
An example of a question to be found on the form is:
Are you aware of any additions or alteration made without a required permit or final inspection, for example, building, electrical, gas etc?
Watch this educational video below created by BCREA to understand as a buyer or seller of real estate the function of the property disclosure statement and your options and choices related to this document and when you should see legal advice.
Make sure you discuss all the details of any document you are going to complete and sign with your licensed real estate professional BEFORE you complete and sign it and get legal advice before completing andsigning if you need to.
If you would like to learn more about how I serve my clients in buying and selling real estate please contact me here to book a time for an introductory free consultation.
Once we meet you get your own personal copy of the special buyers or seller guide books I created that help you become more informed about todays more complex real estate buying or selling journey. Knowledge is power.
Sincerely,
David Hennessey
REALTOR®
eXp Realty
604 626 8903
