Seller's Disclosure
It is a form that the sellers fills stating all deficient
conditions of which the seller has actual knowledge about the house. This form
is given to the buyer as soon as practicable, but in any event, no later
than prior to signing any agreement to transfer real estate, the seller of the
real estate shall deliver a written disclosure to buyer and to each agent with
whom seller knows he or she or buyer has dealt in connection with the real
estate.
The agent is not liable for the accuracy or thoroughness of
representations made by seller in the written disclosure or for deficient
conditions not disclosed to the agent by the seller.
At the top of the all Rhode Island Sellers Disclosure will
inform the buyer:
"Prior to the signing of an agreement to transfer
real estate (vacant land or real property and improvements consisting of a
house or building containing one to four (4) dwelling units), seller is
providing buyer with this written disclosure of all deficient conditions of
which seller has knowledge. This is not a warranty by seller that no other
defective conditions exist, which there may or may not be. Buyer should
estimate the cost of repair or replacement of deficient conditions prior to
submitting an offer on this real estate. Buyer is advised however not to rely
solely upon the representation of seller made in this disclosure, but to
conduct any inspections or investigations which buyer deems to be necessary to
protect his or her best interest."
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