Defect Disclosure
Agreement Number
EXCLUSIVE SELLER REPRESENTATION AGREEMENT DEFECT DISCLOSURE INSTRUCTION SCHEDULE (For Use in Common Law and Designated Agency Brokerages)
SUTTON GROUP - CANWEST To (Brokerage Name):____________________________________________________________________________________________ ————————————————————————————————————————————————————————————— 1.
DISCLOSURE OF MATERIAL LATENT DEFECTS (a) We, the Seller, understand that: i. It is our legal duty to disclose material latent defects. These are known defects in the property that are not discoverable though a reasonable inspection and that may make the property dangerous or potentially dangerous to occupants or unfit for habitation. ii. If material latent defects are not disclosed to a buyer, the buyer could sue for damages and/or rescind the Purchase Contract. (b) We direct the Brokerage to actively disclose to prospective buyers all known material latent defects as listed below.
2.
DISCLOSURE OF OTHER DEFECTS & INFORMATION (a) We, the Seller understand that we do not need to actively disclose patent defects. These are defects that are not material latent defects, including all defects visible or discoverable through a reasonable inspection or other information that may be a negative selling feature. (b) We direct the Brokerage to actively disclose to prospective buyers the following patent defects and other information that may affect a decision to buy the property.
3.
LEGAL ADVICE We confirm that the Brokerage has recommended that we seek independent legal advice regarding our disclosure obligations before signing a Purchase Contract with a buyer.
———————————————————————————————————————————————————————————— SIGNED AND DATED on ________________________________________________________________________________, 20____. ____________________________________________________ Signature of Seller
____________________________________________________ Print Name of Seller
____________________________________________________ Signature of Witness
____________________________________________________ Print Name of Witness
___________________________________________________ Signature of Seller
___________________________________________________ Print Name of Seller
___________________________________________________ Signature of Witness
___________________________________________________ Print Name of Witness
Seller: Initial here to show you have received a copy of this Schedule ____________ Initials Dated at ________.m. on _________________________________________________________________________, 20_____.
Page 1 of 1
AREA©147CLDARoot_2013Nov This form was developed by the Alberta Real Estate Association (AREA) for the use of its members only. Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).
WEBForms ® Feb/2014
EXCLUSIVE SELLER REPRESENTATION AGREEMENT DEFECT DISCLOSURE INSTRUCTION SCHEDULE (For Use in Common Law and Designated Agency Brokerages)
SUTTON GROUP - CANWEST To (Brokerage Name):____________________________________________________________________________________________ ————————————————————————————————————————————————————————————— 1.
DISCLOSURE OF MATERIAL LATENT DEFECTS (a) We, the Seller, understand that: i. It is our legal duty to disclose material latent defects. These are known defects in the property that are not discoverable though a reasonable inspection and that may make the property dangerous or potentially dangerous to occupants or unfit for habitation. ii. If material latent defects are not disclosed to a buyer, the buyer could sue for damages and/or rescind the Purchase Contract. (b) We direct the Brokerage to actively disclose to prospective buyers all known material latent defects as listed below.
2.
DISCLOSURE OF OTHER DEFECTS & INFORMATION (a) We, the Seller understand that we do not need to actively disclose patent defects. These are defects that are not material latent defects, including all defects visible or discoverable through a reasonable inspection or other information that may be a negative selling feature. (b) We direct the Brokerage to actively disclose to prospective buyers the following patent defects and other information that may affect a decision to buy the property.
3.
LEGAL ADVICE We confirm that the Brokerage has recommended that we seek independent legal advice regarding our disclosure obligations before signing a Purchase Contract with a buyer.
———————————————————————————————————————————————————————————— SIGNED AND DATED on ________________________________________________________________________________, 20____. ____________________________________________________ Signature of Seller
____________________________________________________ Print Name of Seller
____________________________________________________ Signature of Witness
____________________________________________________ Print Name of Witness
___________________________________________________ Signature of Seller
___________________________________________________ Print Name of Seller
___________________________________________________ Signature of Witness
___________________________________________________ Print Name of Witness
Seller: Initial here to show you have received a copy of this Schedule ____________ Initials Dated at ________.m. on _________________________________________________________________________, 20_____.
Page 1 of 1
AREA©147CLDARoot_2013Nov This form was developed by the Alberta Real Estate Association (AREA) for the use of its members only. Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).
WEBForms ® Feb/2014
