updated seller disclosure

In the eyes of many, DSC-8000 had just become too long and complicated. Accordingly, all of the changes made were designed with the common goal to make it much easier for both our members and their clients to understand.  

 

 

It is not feasible to try and describe ALL the changes made.  Many of the same changes are the same as those approved with respect to the Farm and Vacant Land Disclosure Form (DSC-8020).  The attached “redline” (comparing it vs the prior published form) is helpful, but here is a brief summary of at least the highlights made to “new” DSC-8000:

• Instead of leading in with ½ page of bold and italicized warnings, disclaimers and admonishments, page 1 begins with a summary of perhaps the most relevant info of all (the Seller’s personal acquisition and occupancy history).
• Because only certain types of disclosures are required by statute, page 1 also groups each of them in a “Statutory Disclosures“ section.
• On page 2, Seller is given the option to elect to make no additional disclosures (even though they are strongly encouraged to complete the entire form).
• The order of the disclosure topics/sections was modified to make the categories more logical and straight-forward (beginning with the guts of the basic internal systems, and then transitioning to the exterior of the subject Property, and then on to other matters generally applicable (e.g., insurance), and concluding with various community based topics (e.g., see the info requested at §17).
• Many topics were made to be more inclusive (to capture additional things related or relevant thereto).
• The overall length of DSC-8000 was effectively reduced.  Page 6 is now just a stand-alone signature page (although it does include revised and specific itemized acknowledgments from each party). 

The form was made “shorter” by preparing several “new” separate riders, each designed to cover certain things that simply don’t apply to all properties.  They are (as listed at §19 of DSC-8000):

• DSC-8000A - Water Well/Sewage System Disclosure Rider
• DSC-8000B - Lakes & Ponds/Waterfront Property Disclosure Rider
• DSC-8000C - Condo/Co-Op/Shared Cost Development Disclosure Rider
• DSC-8000D - Pool/Hot Tub Disclosure Rider

I have also attached the updated copy of the seller disclosure that is available in transaction desk.

Thanks,

 

Jamie Thornsberry

RE/MAX Boone Realty

33 E. Broadway, Ste. 200

Columbia, MO 65203

PH:  (573) 256.3182

www.boonerealty.com | www.seeremax.com

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