The Massachusetts sellers statement of property condition is a form that many Massachusetts Real Estate companies require their agents to have the seller sign. Massachusetts however, does not require these forms to be filled out as part of a Real Estate transaction so it is up to the individual company to decide if they are going to use them or not.
Quite simply the form details everything a home owner may know about the property during the time that they have owned it.
Within this form you will find questions on everything from the lot and zoning to all the structural components in the home including heat, electrical, plumbing, roof, ect.
It is no secret that in Real Estate you are supposed to disclose anything that you know about a property that could materially effect the value. As a Realtor if you know that every Spring the home that you are marketing gets water in the basement you don’t keep it a secret! Unless of course you don’t mind getting sued!
Most regard the function of the form as a protection for the seller and the Realtor. In fact many errors and commissions policies give a discount to Real Estate companies that require their agents to have these forms filled out.
As a home buyer, you should always ask your buyers agent to get a copy of the sellers disclosure form in order to be able to review any known issues. Every seller has the duty to respond fully and accurately to any request for information about a property. In the event the form is not used it does not mean the Realtor and seller are off the hook for giving proper Real Estate disclosures on any defects they may be aware of with the home or neighborhood.
When I am representing a seller one of the things I am a real stickler about is having them fill out the form as detailed as possible. I want them to disclose every known issue that is present.
Why do I do this? In a buyers market it is typical that there can be a 2nd round of negotiations after the home inspection. Buyers feel like they are in the drivers seat and sometimes think they can ask for the moon.
It is very difficult for a buyer to come back after a home inspection and ask the seller to provide a credit for repair or just plain fix the issue if you have already made them aware of it prior to an offer!
For example lets say you are aware of the following conditions or items that possibly need repair in your home:
- A window that has a broken seal (window has fogged).
- The back right burner on the stove is not operational.
- A hair line crack in the foundation wall.
- The hand rail on the deck is loose.
If these things are disclosed up front to a buyer before they make an offer on your home it is awfully difficult for them to come back to you after the fact and ask for a repair or credit.
A good Real Estate agent will be prepared up front to avoid complications down the road.
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About the author: The above Real Estate information on Massachusetts seller’s statement of property condition was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at email@example.com or by phone at 508-435-5356. Bill has helped people move in and out of many Metrowest towns for the last 24+ Years.
Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!
I service the following towns in Metrowest MA: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Franklin, Framingham, Grafton, Northbridge, Shrewsbury, Northboro, Bellingham, Uxbridge, and Douglas.