• The benefits of using a Seller's Disclosure Statement


    While seller disclosure statements are not mandatory in WA, the majority of agents have adopted the wise practice of using REIWA’s standard form Seller’s Disclosure Statement because it achieves many positive outcomes including:

    • A written record of what the seller has told you.
    • A convenient way to relay the property information to prospective buyers.
    • Proof that you have gone through with the seller the representations and warranties that the seller will be making in the contract - the statutory code of conduct requires that you act with due care, skill and diligence. Part of this obligation would include explaining the conditions associated with a contract.
    • Proof that you have complied with your statutory obligation to make reasonable efforts to ascertain all facts material to the transaction and to relay a material fact to any person who would be affected by that fact. 
    • A written record in case there is a dispute between buyer and seller. 
    • A written record in case there is a dispute of what you have relayed to the buyer.

    The Seller's Disclosure Statement is Form 322 on REI Forms Live under residential sales. 

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    • Tue, 13 Apr 2021

      Register now for this commercial networking event > Read


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