8. Sellers are not required to disclose if any occupant was HIV- positive, or had any other disease not likely to be transmitted by occupying a home, or whether the home was the site of a homicide, suicide or felony, or other act or occurrence which had no effect on the physical structure of the property.
9. Sellers may provide an "as is", "no representations or warranties" disclaimer statement in lieu of the Disclosure form only if t he buyer waives the right to the required Disclosure, otherwise the sellers must provide the completed Disclosure form.
10. Sellers may be exempt from having to complete the Disclosure form in certain limited circumstances (for example - public auctions, court orders, some foreclosures and bankruptcies, new construction with written warranty, or owner has not resided on the property at any time within prior 3 years). [see § 66-5-209 for complete list of exemptions]
11. Buyers are advised to include home, wood infestation, well, water sources, septic system, lead baded paint, radon, mold, and other appropriate inspection contingencies in the purchase contract, as this form is not a warranty of any kind by the seller, and is not a substitute for any warranties or professional inspections the buyer may desire to purchase.
12. Buyers should negotiate the repairs of any disclosed defects by addressing them in the purchase contract (see #6).
13. Buyers may, but do not have to, waive their right to receive the Disclosure form from the sellers if the sellers provide an "as is", "no representations or warranties" disclaimer statement.
14. Remedies for a seller’s misrepresentation or nondisclosure on a Disclosure form may be available to buyer, including the possibility of terminating the contract. [§ 66-5-208] Buyer should consult with an attorney regarding any such matters.
15. Representations in the Disclosure form are those of the sellers only, and not of any real estate licensee, although licensees are required to disclose to all parties adverse facts of which the licensee has actual knowledge or notice.
16. For newly constructed residences on a septic system, sellers are prohibited from knowingly advertising or marketing a home as having more bedrooms than are permitted by the subsurface sewage disposal system permit. [§ 47-18-104(b)]
17. Sellers must disclose the presence of any known exterior injection well and the results of any known percolation tests or soil absorption rate performed on the property that is determined or accepted by the Dept of Environment & Conservation.
18. For condominiums, buyers are entitled, upon request, to receive information regarding the condominium administration.
TN RESIDENTIAL PROPERTY CONDITION DISCLOSURE
1Property Address:
2 Buyer Name(s):
3 Seller Name(s):
4Buyers' and Sellers' Rights and Obligations under the Tennessee Residential Property Disclosure Act:
5The Tennessee Residential Property Disclosure Act requires sellers of residential real property with one to four dwelling units to
6 furnish to a buyer one of the following: (1) a residential property disclosure statement (the "Disclosure") [this form], or (2) a
7 residential property disclaimer statement (permitted only where the buyer waives the required Disclosure). Some property transfers
8 may be exempt from this requirement. The following is a summary of the buyers' and sellers' rights and obligations under the Act.
9 A complete copy of the Act (TCA Title 66, Chapter 5, Part 2) may be found at: http://tn.gov/commerce/boards/trec
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
1.Sellers must disclose all known material defects, and must answer the questions on this Disclosure form in good faith to the best of the seller's knowledge as of the Disclosure date.
2.Sellers must give the buyers the Disclosure form (or disclaimer statement) before the acceptance of a purchase contract.
3.Sellers must inform the buyers, at or before closing, of any inaccuracies or material changes in the condition that have occurred since the time of the initial Disclosure, or certify that there are no changes.
4.Sellers may give the buyers a report or opinion prepared by a professional inspector or other expert(s), or certain information provided by a public agency, in lieu of responding to some or all of the questions on the Disclosure form.
5.Sellers are not required to have a home inspection or other investigation in order to complete the Disclosure form.
6.Sellers are not required to repair any defects listed on the Disclosure form, or on any inspection report, unless agreed to in the purchase contract or a contract amendment.
7.Sellers involved in the first sale of a dwelling must disclose the amount of any impact fees or adequate facility taxes paid.
44The buyers and sellers involved in the current or prospective real estate transaction for the property listed above acknowledge that
45they were informed of their rights and obligations regarding TN Residential Property Disclosures, and that this information was
46provided by the real estate licensee(s) prior to the completion or reviewing of this Property Condition Disclosure. Buyers and
47sellers also acknowledge that they were advised to seek the advice of an attorney on any legal questions they may have regarding
48this information, or prior to taking any legal actions. Buyers and sellers acknowledge receipt of a copy of this Disclosure.
49The Tennessee Residential Property Disclosure Act states that anyone transferring title to residential real property must provide
50information about the condition of the property. This com pleted fo rm co nstitutes th at d isclosure b y th e seller. This is not a
51warranty, or a substitute for any professional inspections or warranties that the purchasers may wish to obtain.
52Buyers and sellers should be aware that any sales agreement executed between the parties will supersede this form as to any
53obligations on the part of the seller to repair items identified below and/or the obligation of the buyer to accept such items
54“as is.” Parties may wish to obtain professional advice and/or inspections of the property and to negotiate appropriate provisions in
55the purchase agreement regarding advice, inspections or defects.
Page 1 of 3 |
Modified on 01/01/2013 |
56INSTRUCTIONS TO THE SELLER
57Complete this form yourself and answer each question to the best of your knowledge. If an answer is an estimate, clearly label it
58as such. Explain any YES answers and describe the nature and extent of any defects or repairs. If more space is needed, attach
59additional sheets. You may also attach any documents pertaining to repairs or corrections. The Seller hereby authorizes any real
60estate licensee involved in this transaction to provide a copy of this statement to any person or entity in connection with any actual
61or anticipated sale of the subject property.
621. Property age: _______________
632. Date seller acquired the property: ______________
64 |
3. Does seller currently occupy the property? |
Seller occupies property |
Seller does not occupy property |
654. If not currently seller-occupied, how long has it been since the seller did occupy the property, if ever?
66 |
5. The property is a |
site-built home |
non-site-built home (e.g. - modular, manufactured, |
mobile) |
676. Roof type (e.g. - composition asphalt shingle, wood, metal, tile): ________________________ Approx. age of roof:
68 |
7. Is there a Homeowners Association (HOA) which has any authority over the subject property? |
Yes |
No |
69Name & address of HOA:
70Monthly Dues: _________ Transfer Fees: _________ Special Assessments:
71A. The property includes the items checked below:
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
Range |
|
Spa/Whirlpool Tub |
|
|
Access to Public Streets |
Oven |
|
Hot Tub |
|
|
|
Current Termite Contract |
Microwave |
|
Sauna |
|
|
|
TV Antenna/Satellite Dish |
Dishwasher |
|
All Landscaping and Outdoor Lighting |
excluding components |
Garbage Disposal |
|
Patio/Decking/Gazebo |
|
|
Burglar Alarm/Security System |
Trash Compactor |
|
Irrigation System |
|
|
including components and controls |
Water Softener |
|
Installed Outdoor Cooking Grill |
|
Smoke Detector/Fire Alarm |
220 Volt Wiring |
|
Pool |
In-ground |
Above-ground |
Garage |
Attached Not Attached |
Washer/Dryer Hookups |
|
Rain Gutters |
|
|
Garage Door Opener(s) and remotes. |
Window Screens |
|
Sump Pump |
|
|
How many remotes?______ |
Fireplace (How many? _____) |
Central Vacuum System and attachments |
Carport |
|
|
Gas Starter for Fireplace |
|
A key to all exterior doors |
|
Wall/Window Air Conditioning |
Gas Fireplace Logs |
|
Intercom |
|
|
|
Heat Pump (Approx. age: _______) |
Central Heating |
Age: __________ |
Electric |
Gas |
Other: |
|
|
|
Central Air Conditioning |
Age: __________ |
Electric |
Gas |
Other: |
|
|
|
Water Heater |
Age: __________ |
Electric |
Gas |
Other |
(solar, geothermal, tankless, etc): |
|
Water Supply |
City Water |
Private Well |
Shared Well |
Other: |
Sewage Disposal |
City Sewer |
Septic Tank |
STEP System |
Other: |
Gas Supply |
Utility |
Bottled Gas or Private LP Tank |
Other: |
Other items included:
92 |
To the best of seller’s knowledge, are any in Part A above NOT in operating condition: |
YES |
NO |
93 |
If YES, then describe: |
|
|
|
94
95
96
97B. Is Seller AWARE of any defects or malfunctions in any of the following?
|
Yes |
No |
N/A |
Yes |
No |
N/A |
98 |
Interior Walls |
|
|
Roof |
|
|
99 |
Ceilings |
|
|
Basement |
|
|
100 |
Floors |
|
|
Foundation |
|
|
101 |
Windows |
|
|
Slab |
|
|
102 |
Doors |
|
|
Driveway |
|
|
103 |
Insulation |
|
|
Sidewalks |
|
|
104 |
Plumbing |
|
|
Central Heating |
|
|
105 |
Sewer/Septic |
|
|
Heat Pump |
|
|
106 |
Electrical System |
|
|
Central Air Conditioning |
|
|
107 |
Exterior Walls |
|
|
|
|
|
108If any of the above in Part B are marked YES, please explain:
109
110__________________________________________________________________________________________________________________
111Please describe any repairs made by you or any previous owners of which you are aware (attach separate sheets if necessary):
112
113
114
Page 2 of 3 |
Modified on 01/01/2013 |
26. The property is in an historical district or has been declared historical by a governmental authority and permission must be obtained before certain improvements or aesthetic changes to the property are made?
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
C. Is Seller AWARE of any of the following: |
YES NO N/A |
1. Substances, materials or products which may be environmental hazards such as, but not limited to: asbestos, radon gas, lead-based paint, fuel or chemical storage tanks, methamphetamine, contaminated soil or water, and/or known existing or past mold presence on the subject property?
2. Features shared in common with adjoining land owners with joint rights and obligations for use and maintenance (e.g. - driveways, private roads, walls, fences, wells, septic systems, etc)?
3. Any authorized changes in roads, drainage or utilities affecting the property, or contiguous to the property?
4. Any changes since the most recent survey of the property was done? (Most recent survey of property: _______)
5. Any encroachments, easements, or similar items that may affect your ownership interest in the property?
6. Room additions, structural modifications or other alterations or repairs made without necessary permits?
7. Room additions, structural modifications, other alterations or repairs not in compliance with building codes?
8. Landfill (compacted or otherwise) on the property or any portion thereof?
9. Any settling from any cause, or slippage, sliding or other soil problems?
10. Flooding, drainage or grading problems?
11. Any requirement that flood insurance be maintained on the property?
12. Any of the property located in a designated flood hazard area?
13. Any past or present interior water intrusions(s), standing water within foundation and/or basement?
132 14. Property or structural damage from fire, earthquake, floods, landslides, tremors, wind, storm, or wood
133destroying organisms (such as termites, mold, etc.)?
134 15. Any zoning violations, nonconforming uses and/or violations of “setback” requirements?
135 16. Neighborhood noise problems or other nuisances?
136 17. Subdivision and/or deed restrictions or obligations?
137 18. Any “common area” (pools, tennis courts, walkways, etc), co-owned in undivided interest with others? 138 19. Any notices of abatement or citations against the property?
139 20. Any lawsuit(s) or proposed lawsuit(s) by or against the seller which affects or will affect the property? 140 21. Any system, equipment or part of the property that is being leased? (e.g. security system, water softener,
141satellite dish, etc.) Lease payoffs or assumptions should be addressed in the purchase contract.
142 22. Any exterior wall covered with exterior insulation and finish systems (EIFS, or synthetic stucco)?
143If yes, has there been a recent inspection to determine whether the structure has excessive moisture
144accumulation and/or moisture related damage? [explain below] (The Tennessee Real Estate Commission
145urges any buyer or seller who encounters this product to have a qualified professional inspect the property)
146 23. Any finished rooms that are not supplied with heating and air conditioning?
147 24. Any septic tank or other private disposal system that does not have adequate capacity and approved design
148to comply with present state and local requirements for the actual land area and number of bedrooms?
149If residence is on a septic system, the septic system is legally permitted for _______ number of bedrooms.
150 25. The property is affected by covenants, conditions, restrictions (CCR’s), or Home Owner Association by-laws
151requiring approval for changes, use, or alterations to the property?
152
153If any of the above in Part C are marked YES, please explain:
154
155
156
157Seller certifies that this information is true and correct to the best of seller’s knowledge as of the date signed.
158X________________________________________________ X____________________________________________________
Seller Signature |
Date & Time |
Seller Signature |
Date & Time |
159Buyer understands that this Disclosure is not intended as a substitute for any inspection, and that buyer has a responsibility
160to pay diligent attention to and inquire about defects which are evident by careful observation. Buyer acknowledges receipt
161of a copy of this Disclosure.
162X________________________________________________ X____________________________________________________
Buyer Signature |
Date & Time |
Buyer Signature |
Date & Time |
|
|
|
|
NOTE: Seller must give buyer a Final Property Condition Disclosure (separate form) at or before closing to disclose any material changes that may have occurred, or to certify that there were no changes since the time of this Disclosure.
Page 3 of 3 |
Modified on 01/01/2013 |
