Filling out the “Declaration of the Seller” in Complete Transparency
The “Declaration of the Seller” form is a tool owners use to give an overview of their house and property upon selling it. This document gives potential buyers important information about the property’s condition.
“It only takes a few minutes to fill out the form, and it’s in the owner’s interest to do so as soon as they put their home on the market,” explains Elena-Maria Bejan, notary at DuProprio. “It’s a good way to conduct the transaction transparently.”
The “Declaration of the Seller” includes:
- Identification of the seller (name, contact information, etc.)
- General information about the property (year it was built, year it was purchased, etc.)
- Problems to declare (visible defects and factors that reduce the property’s value, like a water infiltration or insulation problem)
- Renovations and work done on the property
- Seller’s signature, and an acknowledgement of receipt that the buyer is required to sign
Show that you are of good faith
Note that owners fill out the “Declaration of the Seller” to the best of their knowledge. It demonstrates that they plan to complete the transaction in good faith. Potential buyers will feel more at ease, having all the information they need.
It also reduces the risk of the sale falling through: buyers won’t be taken by surprise if they have an inspection done and it reveals a problem the owner has already declared.
Avoid potential legal problems down the road
The “Declaration of the Seller” is a great tool for preventing legal issues later. The problems declared on the form cannot be considered hidden defects.
The “Declaration of the Seller” form is available for download from the Buy section of our website. What’s more, DuProprio gives its clients access to a telephone assistance service provided by a team of notaries. They will answer your legal questions about selling your property.