Asked by: Rusi Ferronha
Asked in category: real estate, real estate buying and selling
Last Updated: 30th Nov 2022

Is Michigan a state that requires sellers to disclose?

A seller must disclose certain information about the property to a potential buyer before selling residential property in Michigan. You must disclose the information as a seller by filling out a written disclosure declaration and giving it to your buyer. (Mich. Comp.

It is also asked, Do you need to obtain a seller's disclosure.

A: While most states require sellers to give a seller disclosure form, not all states do. In some cases, however, the seller may not be required to disclose. A seller disclosure form is not required if the seller's house is part of an estate, or a sale that was ordered by a court or sheriff.

Is Michigan also a disclosure state? Michigan's disclosure laws require that a seller disclose all information about their home, including any imperfections. This includes things such as lead-based paint, water damages, hazardous conditions, pest harm, and past claims.

Who is exempted from filling out the seller's disclosure form?

For residential property sales between one and four units, the Seller Disclosure Act is applicable. Exempt are certain sellers like an estate, bankruptcy trustee, or foreclosing borrower. Sellers are not exempt simply because they have not lived in the house.

What does it mean for sellers exempted from disclosure?

Exemptions are granted if the property is bank owned. They cannot reveal the property as they don't know anything about it. They are not allowed to disclose if it is a new house that has never been lived in (in VA.)