Explaining The Seller Disclosure Statement (Form 17)

If you are selling a property in Washington State, you will without a doubt be hearing about the Seller Disclosure Statement. This statement is also known as Form 17. Today we are going to explain Form 17 in a little more detail and help to try to clear up any questions that you might have about what exactly this form is.

Form 17 is a mandatory, required form, that is mandated by the state of Washington. If you are selling a property, you will most likely have to fill one out. In short, Form 17 is a detailed questionnaire about a property, asking all sorts of questions about the condition and state of the property. The seller must answer questions about the conditions and history of the property to the best of their abilities.

If you are selling a newly constructed home, a manufactured home, a mobile home, a residential dwelling of up to four units, or certain timeshares or condos, you will have to fill out Form 17. There are a few cases that are exceptions in which the seller will not have to fill out Form 17. A few of these exceptions include foreclosure properties, or deed-in-lieu of foreclosure properties, properties that are being transferred in a divorce settlement or being sold to a direct family member, or if you have owned the property you are buying in the last two years.

The questions on Form 17 are pretty straight forward and to the point. The seller is asked a series of questions and the list is pretty short. The seller has only three options for answering questions. They can answer Yes, No, or I Don't Know. It is imperative that the seller answers the questions one hundred percent truthfully. If the seller answers with yes and the answer is anything short of 100% yes, the seller could be sued. Same with a no answer if the answer is anything else than 100% no. You will often find that the seller often goes with the "I Don't Know" option to avoid any potential problems with questions that they may not be for sure of the answer to.

As previously stated, the questions on the form are pretty straightforward. The seller will be asked if they have legal authority to sell the property, and if if there are any boundary encroachments or disputes on the property. They will also be asked whether or not there is a private road, easement, or right of way limitations that may affect the property. The form also asks if there are any zoning violations or unusual restrictions that affect the property. The questions are all pretty much straightforward and easy to understand.

The seller must sign the form and date it when it is complete and the buyer must do the same to acknowledge that they have received and read the form and are aware of the facts relating to the form. The Seller Disclosure Statement, also known as Form 17, is one of the more straightforward and easy to navigate documents in relation to home buying or selling. However, by choosing a trusted agent like Hamid Ali, you will be sure to cover all bases and have any questions that you might have answered right away!

Speak Your Mind

*

All information provided is deemed reliable but is not guaranteed and should be independently verified.