This is post # 5 in a series on “Buying a Home – Oklahoma Standardized Contracts”, covering paragraph 6 of the contract:  “RESIDENTIAL PROPERTY CONDITION DISCLOSURE” 

The Disclosure form is available on the Oklahoma Real Estate Commisison's Website Here.

Paragraph 6 reads: 

“No representations by Seller regarding the condition of Property or environmental hazards are expressed or implied, other than as specified in the Oklahoma Residential Property Condition Disclosure Statement (“Disclosure Statement”) or the Oklahoma Property Condition Disclaimer Statement (“Disclaimer Statement”), if applicable. A real estate licensee has no duty to Seller or Buyer to conduct an independent inspection of the Property and has no duty to independently verify accuracy or completeness of any statement made by Seller in the Disclosure Statement and any amendment or the Disclaimer Statement.”

The Residential Property Condition Disclosure Act    requires the Seller to make available to the Buyer either a seller completed Residential Property Condition Disclosure Statement Form or a seller completed Disclaimer Form which are available from the Oklahoma Real Estate Commission.

The Disclaimer Form can only be substituted for the Disclosure form if the seller has never occupied the property and makes no disclosures about the property condition and has no actual knowledge of any defects.   

If a seller becomes aware of a defect after delivery of the disclaimer to the buyer BUT before an offer is accepted, the Disclosure statement is to be completed and delivered to the buyer.  The form is to be current within 180 days prior to the delivery of it to the buyer. The disclaimer form also states, “ If this disclaimer statement is delivered to a purchaser after an offer to purchase has been made by the purchaser, the offer to purchase shall be accepted by you only after a purchaser has acknowledged receipt of this statement and confirmed the offer to purchase.”

The Disclosure Statement is 3 pages and can usually be filled out in a short period of time by the seller.  Page 1 is a list of appliances, systems, and services that require the seller to indicate condition by circling one of the following choices: N/A,  if the property does not include that item, Yes, if the item is present and works properly, No, if the item is present and does not work properly, and Unk, if the seller does not know whether the item is present or if it is in normal working order.   The systems, etc., included on page 1 are:

• Sprinkler System
• Swimming Pool
• Hot Tub/Spa
• Water Heater
• Water Purifier
• Water softener
• Sump Pump
• Plumbing
• Whirlpool Tub
• Sewer System
• Air conditioning
• Attic Fan
• Fireplaces
• Heating System
• Humidifier
• Gas Supply
• Propane Tank
• Ceiling Fans
• Electric Air Purifier
• Garage Door Opener
• Intercom
• Central Vacuum
• Security System
• Smoke Detectors
• Dishwsher
• Electrical Wriing
• Garbage Disposal
• Gas Grill
• Vent Hood
• Microwave Oven
• Built-in Oven/Range
• Kitchen Stove
• Trash Compactor

Pages 2 and 3 of the Disclosure Form includes questions about the household water source, zoning, flood and water, additions, alterations, repairs, environmental, property shared in common, easements, and homeowners’ associations.

One thing to remember is plainly stated at the top of the first page of the disclosure:

“Notice to Purchaser: The declarations and information contained in this disclosure statement are not warranties, express or implied of any kind, and are not a substitute for any inspections or warranties the purchaser may wish to obtain. The information contained in this disclosure statement is not intended to be a part of any contract between the Purchaser and Seller. The information and statements contained in this disclosure statement are declarations and representations of the Seller and are not the representations of the real estate licensee.”

Next time we’ll talk about

INVESTIGATIONS, INSPECTIONS and REVIEWS

I hope this has been helpful and that you are a little more aware either as a buyer or a seller about one of the forms necessary in the transaction of selling or buying a home.

Judi Barrett, Broker, Integrity Real Estate Services, Idabel, Oklahoma. 

Serving McCurtain County and Eastern Choctaw County

Southeast Oklahoma

Our Name Says It All.

Previous Posts in this series.