Which transaction is exempt from the Seller's Residential Real Estate Sales Disclosure form requirement to disclose property condition?

The transaction involving a newly constructed single-family residence that has never been occupied is exempt from the Seller's Residential Real Estate Sales Disclosure form requirement. This exemption is based on the premise that since the property has not been previously occupied, there is no history of condition issues that the seller would be required to disclose.

Typically, the Seller's Residential Real Estate Sales Disclosure form is designed to inform potential buyers about the condition of an existing property by disclosing known issues or defects. In the case of newly constructed homes, the builders or sellers of these properties usually offer warranties that cover the conditions and systems of the home, reducing the need for such disclosures.

Purchasers of residences in other categories, like pre-owned homes, multi-family dwellings, or properties sold in a foreclosure, typically require disclosures because these properties have had previous occupants, and potential buyers benefit from knowing the condition of the property based on the seller’s knowledge.