Patricia is selling her Tacoma home and completes Form 17. After mutual acceptance but before closing, she discovers that the basement has developed a new water leak that was not present when she completed the disclosure. Under RCW Chapter 64.06, what is Patricia's obligation regarding this newly discovered defect?
Correct Answer
B) Patricia must amend and re-deliver the updated Form 17, restarting the buyer's three-business-day rescission period
Under RCW 64.06.013, if the seller discovers a material defect or change in the property's condition after delivering Form 17 but before closing, the seller has an obligation to amend and re-deliver the updated Seller Disclosure Statement. Upon receiving the amended Form 17, the buyer's three-business-day rescission period restarts, giving the buyer a fresh opportunity to evaluate the new information and decide whether to proceed.
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Related Topics & Key Terms
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Related Concepts
Megan's Law requires states to make information about registered sex offenders available to the public. Some states require real estate agents to inform buyers about the availability of sex offender registries.
Mold disclosure involves informing buyers about the presence of mold or conditions that are conducive to mold growth in a property. While no federal mold disclosure law exists, many states require disclosure of known mold issues.
A property condition disclosure is a written statement by the seller detailing the known condition of the property, including defects, repairs, and issues with major systems. Most states require sellers to complete this form.
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