A Sellers Property Disclosure (SPD) is a document that the seller fills out when their home hits the market. It includes information about any defects or damages, as well as any upgrades that the buyer has made (such as a structural addition or replacing the hot water heater).
Additionally, it may also provide some insight into the age of big-ticket items, like the heating and cooling system or roof. This can help the buyer budget for replacing items after the sale, as well as consider purchasing a home warranty.
However, while the SPD is a helpful tool for learning more about a specific home, it is NOT intended to serve as a substitute for a home inspection. We always recommend that all buyers get a home inspection.
Unfortunately, not all homes will have a sellers property disclosure for your review. Bank-owned (foreclosure) homes will not provide any of this information, as the bank cannot make any claims about the property’s condition. Similarly, many estate homes will also not provide a disclosure.