It should also be noted that if an agent does not know the real estate conditions at the time of sale, he cannot be held responsible for omissions or errors in disclosure. So, the likelihood that you will find a “pre-sale” home inspection report or other information about the seller`s agent`s ownership conditions is quite rare. Most sellers don`t want to know the details of a property other than the number of bathrooms/bedrooms, size, price, and address. The risk of exposure is too great. The disclosure rule says: Hi Gary – I`ve been looking for a house for months and I finally made a deal with the seller. It is offered by an FSBO (for sale by the owner) and the seller was really wonderful to work with. They invited me for cookies, were willing to let me see the property for a “second look” in my schedule and seem so patient and accommodating – share with me equipment repair data, receipts and invoices. IMPRESSIVE! I`m in love. You have also completed a document called Declaration of Ownership Disclosure. My question is: Do I need a home inspection? There are certain things you need to disclose when selling your home.

However, the rules vary and can become confusing. Excessive disclosure could hurt your sale, but if you don`t disclose something important, you could be open to prosecution. Learn more about disclosures from real estate sellers in Mississippi here. The advanced PCDS provides more accurate information about the physical state of the property. The Mississippi Real Estate Commission believes this will allow for more transparency for buyers and also deter lawsuits, said Robert E. Praytor, administrator of the MREC. Licensees must also declare that if the ownership status changes, the seller must modify the CPSD and provide the document to the buyer. It is permissible to attach an amendment as long as it relates to a specific part of the CPSD. I found it interesting that you said that declarations of the condition of the property should not be part of a guarantee. My brother and his wife look at several houses they want to buy and they want to make sure they choose this in the best condition. I will send them this information so they can make sure they contact a property condition assessment consultant.

Listing agents do not have to wait for a completed CPSD before signing a registration agreement. However, if a property is listed before receiving the CPSD and a buyer makes an offer, the transaction may be questionable. The buyer would be in a good position to terminate the contract and recover the money earned with impunity. “In each of the 50 states, the main cause of formal complaints is the misrepresentation of the state of the property,” he said. “More information means fewer lawsuits, and it provides members of the public with more details about the property they might want to buy.” Vendors who have completed the 2008 version of the PCDS do not need to immediately complete a new 2017 version of the PCDS on April 1. The 2008 version is still valid for one year from the date of execution. The disclosure laws here in MS are not written as part of the contract between you and the seller, are not a guarantee and actually exist to serve the real estate industry. If you negotiated the sale through a licensed real estate agent, disclosure (see link below) is mandatory. This was a general overview of real estate sellers` disclosure in Mississippi. This is not a complete guide and does not replace the solid advice of a local real estate professional.

Different regions of a state may have their own disclosure requirements that you must meet. “No one is exempt if they have real knowledge,” Praytor said. “The articles of association do not exempt sellers from disclosing information about the condition of a property if they are actually aware of it. Sellers must complete the parts of the CPSD that they are familiar with. Keep in mind that the disclosure statement is an important element that can keep a trial under control. Having a written record of something so valuable is always a good idea, even if it wouldn`t be necessary. As of April 1, listing agents will be required to use new Condition of Ownership Declaration Forms (CPSDs) when selling residential properties consisting of one to four units. If for some reason the deal doesn`t work and you`re back in the market, there are a few things you should consider asking the seller if they`re filling out a disclosure statement or not. The MS Real Estate Commission has also laid out some details about the disclosure statement that relates to your question about a home inspection: No? Next, you need to know what the disclosure requirements are in your area. For properties that are exempt from the completion of an entire PCDS, sellers must continue to fill in the parts of which they have real knowledge of the property. (For example, an executor of an estate has never lived in the house, but knows that the roof has recently been repaired. The executor may be exempt from a full CPDS, but must meet section C.

Dach.) Licensees are required by law to assist sellers in determining whether a property is exempt from a CPSD; declare that a completed CPSD is required under state law; and explain the consequences if you do not complete one. However, this is not advisable. If it turns out that there is a problem with the property, you can be held responsible for the damage. It`s best to avoid these types of legal issues before they even happen by simply submitting your disclosure statement. It is also morally right. The seller`s new exclusion statement makes the current opt-out clause more definable, Praytor said. .