Informational Statement for Louisiana Residential Property Disclosure - Louisiana

Informational Statement for Louisiana Residential Property Disclosure is a legal document that was released by the Louisiana Real Estate Commission - a government authority operating within Louisiana.

FAQ

Q: What is the purpose of the Louisiana Residential Property Disclosure?
A: The purpose of the Louisiana Residential Property Disclosure is to inform potential buyers about the condition of a residential property.

Q: Who is required to fill out the Louisiana Residential Property Disclosure?
A: The seller of a residential property in Louisiana is required to fill out the Louisiana Residential Property Disclosure form.

Q: What information is included in the Louisiana Residential Property Disclosure?
A: The Louisiana Residential Property Disclosure includes information about the property's condition, known defects, and any environmental hazards.

Q: Do sellers have to disclose all defects and issues with the property?
A: Yes, sellers are legally required to disclose all known defects and issues with the property on the Louisiana Residential Property Disclosure form.

Q: Are there any exceptions to the Louisiana Residential Property Disclosure requirement?
A: Yes, there are certain situations where the Louisiana Residential Property Disclosure requirement may not apply, such as sales by court order or foreclosure.

Q: Is the Louisiana Residential Property Disclosure a substitute for a home inspection?
A: No, the Louisiana Residential Property Disclosure is not a substitute for a home inspection. Buyers are still encouraged to get a professional inspection before purchasing a property.

Q: What happens if the seller does not provide a Louisiana Residential Property Disclosure?
A: If the seller fails to provide a Louisiana Residential Property Disclosure, the buyer may have legal recourse and may be able to cancel the sale or seek damages.

Q: Who should I contact if I have questions about the Louisiana Residential Property Disclosure?
A: If you have questions about the Louisiana Residential Property Disclosure, it is recommended to contact a real estate attorney or your real estate agent.