Posted by
Liam Gardner

What are the consequences if the seller fails to provide the buyer with the Seller’s Real Property Disclosure form?

The seller is obligated to deliver the document to the buyer within 5 days of having an effective contract to purchase. If he does not do so in time, but delivers it late, the buyer’s right to cancel the contract remains alive, until such time as the buyer receives the document and has ample opportunity to review it and respond. Nevada law requires the document to be delivered not later than 10 days prior to the close of escrow. However, proper procedure (and the contract) says the SRPD should be delivered to the buyer within 5 days.

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What are the consequences if the seller fails to provide the buyer with the Seller’s Real Property Disclosure form?

By Liam Gardner   
Posted on Jan 23, 2020 in Topic: Home Buying
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The seller is obligated to deliver the document to the buyer within 5 days of having an effective contract to purchase. If he does not do so in time, but delivers it late, the buyer’s right to cancel the contract remains alive, until such time as the buyer receives the document and has ample opportunity to review it and respond. Nevada law requires the document to be delivered not later than 10 days prior to the close of escrow. However, proper procedure (and the contract) says the SRPD should be delivered to the buyer within 5 days.
Status: Open
Viewed: 798
Asked by: Consumer
Posted: 4 weeks ago
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Don Davis
about 3 weeks ago
Buyer Can Terminate!-#DDLRG


about 3 weeks ago
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Steven Montgomery
about 3 weeks ago
The buyer may be able to terminate and receive their earnest money back. However, it should be noted that a Sellers Disclosure may not be required under certain conditions such as when the home is received through a foreclosure or inheritance.


about 3 weeks ago
Silver
Cassandra Vickers
about 3 weeks ago
If the seller is required to provide a Seller's Disclosure Notice under the Texas Property Code but fail to do so, the buyer may terminate the contract at any time prior to closing and have their earnest money refunded. If the Notice is delivered by the seller after the specified amount of days in the contract, the buyer can still terminate the contract within 7 days of receiving the Notice or prior to closing whichever occurs first and have their earnest money refunded.


about 3 weeks ago
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Asmitaben Bhavsar
about 3 weeks ago
The buyer has right to terminate the contract.


about 3 weeks ago
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Glendi Flores
about 3 weeks ago
Hi Good evening, If seller fails to comply with the statute, the buyer is entitled to revoke their offer at any time prior to actually closing the sale.


about 3 weeks ago
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Elizabeth Ferrari
about 3 weeks ago
The Seller's Disclosure Notice is required by law, with few exceptions.

Following the law is always recommended over focusing on the consequences of not having or providing the required disclosures.

The Listing Agent should ensure the Seller has accurately completed all required documentation prior to going live.

If the Buyer has a Buyers' Agent, their agent should request the SDN and any other disclosures from the Listing Agent.

There is valuable information in the disclosures. If a property is listed without, or if the required documentation is not made available, move on.

I hope this helps.


about 3 weeks ago
Silver
Doris Snipp
about 3 weeks ago
Unless the seller is not required to furnish a Sellers disclosure as in a foreclosure the buyer can terminate the offer at any time without financial consequences. The seller would also be in default of contract if the box was checked stating the date the disclosure was to be delivered and it was not delivered.


about 3 weeks ago
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Judith Gomez
about 3 weeks ago
In Texas, by law, the Seller has to provide a Sellers Disclosure. As far as the time frame there’s wiggle room, because we specify under the TREC 1-4 Residential Contract how much time the Seller has to provide the Disclosure’s.

If the Seller fails to provide the documents then the buyer has the option of terminating the contract and grants them authority over the earnest money.

Even if it’s a FSBO those Disclosures have to be provided and that’s something that a lot of For Sale by Owner sellers fail to provide. The buyer can seek advice from an attorney in this case.

If you have any further questions or concerns any of us are willing to help.

Thank you!


about 3 weeks ago
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Tania James
about 3 weeks ago
The seller is obligated to deliver the document to the buyer within 5 days of having an effective contract to purchase. If he does not do so in time, but delivers it late, the buyer’s right to cancel the contract remains alive, until such time as the buyer receives the document and has ample opportunity to review it and respond.


about 3 weeks ago
Bronze

In Texas, the Seller's Disclosure survives closing, which means that if you failed to disclose something you knew of, the buyer could hold seller responsible for it even after they close on the home. In severe cases, this could result in the buyer filing a lawsuit against the seller.


about 3 weeks ago
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Al Mesrahi
about 3 weeks ago
You should as buyer do your own discoveries regardless and do inspection done.


about 3 weeks ago
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Maria Durham
about 3 weeks ago
If you are in Contract and the Seller agreed to provide the Disclosure in a certain time frame and does not, the Seller is in default. Should you cancel the Contract your Earnest Money should be returned to you. There are other remedies and you should consult a real estate attorney. Some property owners are exempt providing the Disclosure because they have no knowledge of the property. For example, a bank that has foreclosed or an owner who inherited the property.


about 3 weeks ago
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Mary Zavala
about 2 weeks ago
If the seller fails to provide the buyer the Seller’s Disclosure the buyer has the option to terminate the contract.


about 2 weeks ago
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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