A listing broker in Olympia advises her seller client that the seller does not need to disclose a known underground oil storage tank on the property because the tank was removed ten years ago and the seller received a clean environmental report at that time. The buyer's broker disagrees. Under RCW Chapter 64.06, which position is correct?
Correct Answer
A) The buyer's broker is correct; the seller must disclose the prior existence of the tank and the remediation on Form 17
Under RCW 64.06, Form 17 requires sellers to disclose known environmental conditions affecting the property, including the prior existence of underground storage tanks and any remediation that has occurred. The fact that remediation was completed and a clean report was obtained does not eliminate the disclosure obligation — buyers have the right to know about prior environmental issues and the steps taken to address them. Material history must be disclosed even if the condition is resolved.
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Related Topics & Key Terms
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Related Concepts
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