And How they relate to you when you are buying a home.
You will be requested on the purchase and sale agreement if you have seen the Seller’s Property Condition Disclosure.
The Seller’s Property Condition Disclosure form is about 4 pages long and it tells you what is working, what doesn’t work, what has been recently repaired, and more. This document is probably the most important part of the whole contract. It’s basically the seller’s word of how things are with the property. Anyone who is selling a home is required by law to provide a property condition report if they have lived in the home. Very few exceptions include estates and rentals.
Idaho only has to disclose anything about the actual property. Furnace doesn’t work those type of things. Idaho sellers do not have to disclose things that have happened on the property. For example, suicides, death, sex offenders down the road, etc.
So if that is something that is important to you – make sure to start researching ahead of time for the areas that you are comfortable with and the ones that you are not.
If you want time to do a neighborhood review you will want to ask for it in the home inspection area of the contract and it will be connected to a timeframe just like the rest of the inspection process. Sometimes that is the easiest way to have a few days to check out the area.
It’s a very good idea to go over the seller’s property condition form really well I prefer you have it in hand prior to making an offer but you certainly want to look it over very well prior to your home inspection. If there’s anything that you have concerns about, that is the time that you want to address them.
You do have a few days after the receipt of it to back out of the contract over things that you are not comfortable with. So super important that you look it over and really make sure that you feel like you understand the property. And of course, any questions be sure to ask your agent, or if it’s super pressing ask your attorney.
Be sure to check out the rest of this series where we break down every part of the Real Estate Contract. We want you to be informed and confident when you go to make your home offer in Idaho.
Want to learn more about Idaho Contracts?
what stays in a Real Estate Purchase
How to make that home buying offer