Disclosure form; presentation required before acceptance of offer
Sec. 10. (a) An owner must complete and sign a disclosure form
and submit the form to a prospective buyer before an offer for the
sale of the residential real estate is accepted.
(b) An appraiser retained to appraise the residential real estate for
which the disclosure form has been prepared shall be given a copy of
the form upon request. This subsection applies only to appraisals
made for the buyer or an entity from which the buyer is seeking
financing.
(c) Before closing, an accepted offer is not enforceable against the
buyer until the owner and the prospective buyer have signed the
disclosure form. After closing, the failure of the owner to deliver a
disclosure statement form to the buyer does not by itself invalidate
a real estate transaction.
As added by P.L.2-2002, SEC.6.
Last modified: May 24, 2006