About that Seller's Disclosure

In Michigan all sellers of real property are required to furnish a completely filled in "Seller's Disclosure" statement. The state legislature outlined exactly what the contents are supposed to be and the form has been updated several times since its unveiling. Keep in mind that this document is a disclosure, not a warranty. The seller MUST furnish a disclosure to the buyer or the buyer may terminate an otherwise binding contract.

There are four parts to the disclosure:

1) Appliances/Systems/Services

2) Property Conditions, Improvements & Additional Information

3) Other Items

4) Ownership information and state equalized value.

Within all 4 parts the seller is required to disclose what he/she knows about the condition of the items listed and if a negative condition exists to explain what he knows about the item.