Sarah is selling her residential property that was built in 1995. The property has been used exclusively as a single-family residence for the past 15 years. A buyer has made an offer and Sarah's agent is preparing the required disclosures. Which statement is correct regarding the SPDS requirement?
Correct Answer
B) An SPDS must be provided because this is a residential resale transaction
An SPDS must be provided because this is a residential resale transaction involving property built after 1960 used as a residence. The age of the property (over 20 years) does not exempt it from SPDS requirements. A home warranty does not waive the SPDS requirement. There is no limited SPDS for older homes - the full disclosure is required.
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