What document requires sellers and brokers to disclose material defects not readily visible to the buyer?

The Sellers Property Disclosure Statement is a vital document in real estate transactions as it obligates sellers to disclose any known material defects that are not readily visible to potential buyers. This includes issues related to the property's condition that might not be apparent during a casual viewing or inspection.

The importance of this document lies in its role in promoting transparency and protecting all parties involved in the transaction. By disclosing these defects, sellers provide potential buyers with essential information that could influence their decision-making process. This disclosure can cover a wide range of issues, including plumbing problems, roof conditions, or pest infestations that could affect the property's value or livability.

While other documents, such as a Property Inspection Report, might highlight specific issues identified during an inspection, it is the Sellers Property Disclosure Statement that legally places the responsibility on sellers to proactively inform buyers about any known issues. This is crucial in preventing disputes and fostering trust in the transaction process.