Quote:
Originally Posted by howard555
According to SC Code § 27-50-40, you must give the purchaser a written disclosure statement, which you may deliver either electronically or some other way.
.......Does that apply to a sale with written contract and it does not matter whether a real estate agent is involved? Local investor buys depressed, repairs and sells. They have sold so many they don't use an agent when deciding on price. Our insurance company said only a 2 day stay per week allows the insurance to be based on "primary residence." So this seller could have stayed in the house for as little as 2 days a week and it would be considered their primary residence and therefore they should know precisely what is wrong with the property and also know of "issues" because they bought and repaired the home and some of the repairs were cosmetic. Thanks.
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Yes, from a quick reading of the statute, a disclosure statement is required whether or not an agent is involved. There are limited exceptions as to the parties required to provide a disclosure form and both parties can agree that a disclosure form will not be provided. Insurance company practices are irrelevant.
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