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Important Considerations of the Property Disclosure Statement Presented by Nancy Vieira of Pemberton Holmes Real Estate Sooke.
ANSWERS MUST BE COMPLETE AND ACCURATE
The Property Disclosure Statement presented by Nancy Vieira, of Pemberton Holmes Real Estate to the buyer was designed, in part to protect the seller by establishing that all relevant information concerning the premises has been provided to the buyer.
It is important that the seller not answer, "do not know" or does not apply. If in fact, the seller knows the answer. An answer must provide all relevant information known to the seller. In deciding what requires disclosure, the seller should consider whether they would want the information, that is, if the seller was a potential buyer of the premises.
A perfect example would be: if the property was used as a marijuana grow operation and the seller knew about it but didn't mention it to the buyer.
The Real Estate Agent is legally responsible for the accuracy of the information which appears on the Property Disclosure Statement, which is a legal document. Not only must the answers be correct but they must be complete.
The buyer will be relying on this information when the buyer contracts to purchase the premises. Even if the Property Disclosure Statement is not incorporated into the Contract of Purchase and Sale, the seller will still be responsible for the accuracy of the information on the Property Disclosure Statement, if it caused the buyer to agree to buy the property as it did to the buyer in the case MLS 350431, believing the owner and trusting in Nancy Vieira.
The buyer found many faults with the Property Disclosure Statement.
1. There was no Survey Certificate Available
2. The owner was aware of encroachments, easements and unregistered rights of way.
3. There is no operating well that the premises can use nor a submersible pump.
4. There was no rain collection system in place.
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