Property Disclosure Statement Form - Oregon

The Property Disclosure Statement Form in Oregon is used by sellers to provide information about the condition and known issues of a property to potential buyers.

In Oregon, the property seller is responsible for filing the Property Disclosure Statement form.

FAQ

Q: What is a Property Disclosure Statement Form?
A: A Property Disclosure Statement Form is a document used in Oregon to disclose any known defects or issues with a property being sold.

Q: Why is a Property Disclosure Statement Form important?
A: It is important because it provides the buyer with information about the condition of the property, allowing them to make an informed decision about the purchase.

Q: What kind of information is included in a Property Disclosure Statement Form?
A: The form typically includes information about the property's structural integrity, plumbing, electrical systems, past repairs, presence of pests, and other relevant details.

Q: Who is responsible for filling out the Property Disclosure Statement Form?
A: The seller of the property is generally responsible for filling out the form and providing accurate information.

Q: What happens if the seller fails to disclose certain defects or issues?
A: If the seller intentionally fails to disclose defects, the buyer may have legal recourse to seek compensation or cancel the sale.

Q: Do all states require a Property Disclosure Statement Form?
A: No, property disclosure requirements vary by state, and some states may have different disclosure forms or requirements.

Q: Can a buyer waive their right to receive a Property Disclosure Statement Form?
A: In Oregon, a buyer has the right to receive a Property Disclosure Statement Form, and it cannot be waived.

Q: Is the Property Disclosure Statement Form part of the sales contract?
A: The Property Disclosure Statement Form is usually a separate document but may be attached to the sales contract.

Q: Are there any exemptions to filling out a Property Disclosure Statement Form?
A: Some exemptions may apply, such as transfers between family members, court-ordered sales, or certain foreclosure sales.

Q: Can a buyer request additional inspections or information beyond the Property Disclosure Statement Form?
A: Yes, a buyer can request additional inspections or information about the property to further assess its condition.