Seller's Property Condition Disclosure Statement - South Dakota

Seller's Property Condition Disclosure Statement is a legal document that was released by the South Dakota Department of Labor & Regulation - a government authority operating within South Dakota.

FAQ

Q: What is a Seller's Property Condition Disclosure Statement?
A: A Seller's Property Condition Disclosure Statement is a document that the seller of a property in South Dakota is legally required to provide to the buyer, disclosing any known defects or issues with the property.

Q: What information is included in a Seller's Property Condition Disclosure Statement?
A: The form includes information about the property's condition, including any known defects, repairs or renovations, past or ongoing structural issues, and environmental hazards such as lead paint or asbestos.

Q: Is the seller legally obligated to provide a Seller's Property Condition Disclosure Statement?
A: Yes, under South Dakota law, the seller is required to provide a Seller's Property Condition Disclosure Statement to the buyer before the purchase agreement is signed.

Q: What happens if the seller does not provide a Seller's Property Condition Disclosure Statement?
A: If the seller fails to provide the disclosure statement, the buyer may have legal remedies available, such as the right to cancel the purchase agreement or pursue legal action for damages.

Q: Can the seller be held liable for false or misleading information in the disclosure statement?
A: Yes, if the seller provides false or misleading information in the Seller's Property Condition Disclosure Statement, they can be held liable for any damages or costs that the buyer incurs as a result.