What It Is
A document that is completed by each agent in the transaction that describes any items of note that they observe when at the property.
Why It Exists
The requirement for an agent to document that they had been at the property and share with buyers any items they visually notice when at the property grew out of a lawsuit in the 1970s.
As a Seller You Will
- Interact minimally with this document.
- You may be asked to acknowledge a copy of it.
- You don't have to agree with any of the agent's observations as a seller and you aren't required to sign this document.
As a Buyer You Will
- Be asked to sign off that you've received, reviewed and understand the information presented in the document.
Do not sign this document unless you are comfortable with the property condition or if you have questions/concerns about anything noted in the document.