Property Disclosure Statement Form - West Virginia

The Property Disclosure Statement Form in West Virginia is used to provide information about the condition of a property being sold. It allows the seller to disclose any known defects or issues with the property to the buyer.

In West Virginia, it is the seller who is responsible for filing the Property Disclosure Statement form.

FAQ

Q: What is a Property Disclosure Statement?
A: A Property Disclosure Statement is a form used in West Virginia to disclose information about the condition of a property being sold.

Q: Why is a Property Disclosure Statement important?
A: A Property Disclosure Statement is important because it allows the seller to notify potential buyers about any known defects or issues with the property.

Q: What information is typically included in a Property Disclosure Statement?
A: A Property Disclosure Statement typically includes information about the property's structural condition, electrical system, plumbing system, and any past or current problems.

Q: Does a seller have to fill out a Property Disclosure Statement?
A: Yes, in West Virginia, the law requires sellers to complete a Property Disclosure Statement and provide it to potential buyers.

Q: Can a buyer rely on the information provided in a Property Disclosure Statement?
A: Buyers should review the information provided in a Property Disclosure Statement, but it is also advisable for them to conduct their own inspections and due diligence.

Q: What happens if a seller fails to disclose a known issue?
A: If a seller fails to disclose a known issue that was not obvious to the buyer, the buyer may have legal recourse to seek damages or cancel the sale.

Q: Is a Property Disclosure Statement the same as a home inspection?
A: No, a Property Disclosure Statement is a document completed by the seller, while a home inspection is a separate process conducted by a professional inspector on behalf of the buyer.

Q: Can a seller be held liable for undisclosed issues after the sale?
A: Yes, if a seller intentionally or negligently fails to disclose known issues with the property, they may be held liable for any resulting damages.