Under the South Carolina Residential Property Condition Disclosure Act, which document must a seller of residential real property provide to a prospective buyer?
Correct Answer
A) A completed Property Condition Disclosure Statement revealing known material defects
Under S.C. Code Ann. §§ 27-50-10 et seq., sellers of residential real property are required to complete and deliver a standardized Property Condition Disclosure Statement that reveals known material defects and conditions. This is a seller-completed document based on the seller's actual knowledge — it is not a professional inspection report or warranty.
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Related Topics & Key Terms
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Related Concepts
A stigmatized property is one that has an undesirable reputation due to events that occurred on the property or nearby, such as a murder, suicide, alleged haunting, or proximity to a registered sex offender. The stigma is psychological, not physical.
An as-is clause in a real estate contract states that the buyer accepts the property in its current condition without requiring the seller to make any repairs. However, an as-is sale does NOT eliminate the seller's obligation to disclose known defects.
Asbestos disclosure involves informing buyers about the presence of asbestos-containing materials (ACMs) in a property. Asbestos was commonly used in construction materials before 1980 and poses health risks when fibers become airborne.
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