A Transfer Disclosure Statement (TDS) must be provided by:
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The buyer's agent
The buyer's agent cannot provide the TDS because they represent the buyer's interests and typically lack the seller's intimate knowledge of the property's condition. Disclosure is the seller's legal responsibility, not the buyer's agent's duty.
The seller
The title company
Title companies handle document preparation and transfer of title but don't have the seller's knowledge of property defects. Their role is administrative, not disclosure-related.
The mortgage lender
Mortgage lenders provide financing and evaluate property for loan purposes but don't assume the seller's disclosure obligations. Their focus is on collateral value, not comprehensive property condition disclosure.
Why is this correct?
The seller is legally responsible for providing the Transfer Disclosure Statement because they possess firsthand knowledge of the property's condition and are required to disclose all known material defects. This responsibility stems from the principle of seller disclosure, which protects buyers from hidden issues that could affect property value or safety.
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