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Real property

property disclosure statement

A property disclosure statement is a written document provided by a seller of real property to the prospective buyer stating that the property has a material or significant problem or defect and disclosing the nature of the problem or defect—or stating the seller is unaware of any such problems or defects.

In South Carolina, the law requires sellers of residential property to provide prospective buyers with a property disclosure statement. This document is designed to inform buyers about the condition of the property, including any material or significant problems or defects. The South Carolina Residential Property Condition Disclosure Act outlines the specifics of what must be disclosed. Sellers must complete a disclosure statement that addresses various aspects of the property, such as the condition of the roof, foundation, plumbing, electrical systems, and the presence of environmental hazards, among other things. The disclosure must be made in good faith, and a seller's failure to disclose known defects can lead to legal liability. It's important to note that the disclosure requirements may not apply to certain types of property sales, such as foreclosures or estate sales. Buyers are still encouraged to conduct their own inspections and due diligence.

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Real property

property disclosure statement

Individual & Family Legal Plan

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South-Carolina State Code

Real property

property disclosure statement

South-Carolina State Code

Articles