Transfer Disclosure Statement

Real Estate Transfer Disclosure Statements are statements provided by the seller to the buyer that disclose any known problems or pertinent issues pertaining to the property.  They are applicable for property with 1 to 4 dwelling units.  The statement has four sections. One is to identify supplements, one for the seller to complete, one for the broker of the seller to complete, and one for the buyers broker.  

The statement is to be delivered as soon as possible prior to transfer of title.  If the statement is delivered to the buyer after the execution of the offer to purchase, they buyer has 3 days (if personally delivered) or 5 days (if sent by mail) to terminate the purchase agreement.