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Tip of the Week: OREF 020 – Seller’s Property Disclosure Statements

OREF 020 – Seller’s Property Disclosure Statements: If your seller asks if they should disclose something based on a question on the property disclosures, it’s best to remind them that disclosure is always the best policy.  And consider this: as soon as the seller asks you the question, you immediately have an independent obligation to disclose the information if it is material.  If the seller won’t disclose it, talk with your principal broker about the risks of the representation.

All comments and responses from OREF or its staff, managers, and volunteers are non-legal opinions made for general purposes. Each Forms subscriber must rely solely upon their Principal broker or personal legal counsel for specific advice and instruction. You and your client should independently confirm that the Form(s) you use are legally suitable for the purposes intended and that they are current with respect to all laws and regulations.