What is a PCDS?
When a Realtor gets excited and starts speaking in the Real Estate jargon you never know what to expect.
A PCDS or property condition disclosure statement is a very large part of an offer process. In fact, I always make the PCDS a subject in every one of my offers.
An offer should be subject to the Buyer reading and approving the property condition disclosure statement and once this is done it will be incorporated into and form part of the contract.
A PCDS is a list of very pointed questions asked by the Seller on the condition of the property. The Seller is legally responsible for answering all of the questions which appear on the statement to the best of their knowledge. Not only must all the answers be correct but they must be complete. In deciding what requires disclosure, the Seller should consider whether the Seller would want the information known to them if they were purchasing the property.
The Buyer must still make their own inquiries but they can use this as a basis for making their own inquiries on the property. Additional information can be requested by the Buyer from a number of different resources, including a building inspection, and city and muncipal authorities.
The PCDS contains questions that can make or break your offer. Such items as:
*problems with the electrical systems?
*problems with the heating and air conditioning systems?
*was this property ever used to manufacture illegal drugs or as a marijuana grow operation?
*has there been problems with pests or rodents?
*has there been any damage due to wind, fire, or water?
*problems with the plumbing?
There are instances where the person or executor to an estate has signed the property condition disclosure statement but has never lived on the property. in this instance the signor has never lived on the property and cannot vouch for the condition of the property. in this case the PCDS will have a line through it. In these cases the Buyer must be doubly aware of what is going on in the property and make their own inquiries as to the nature and condition of the property, but the PCDS will still be incorporated into the contract as this is standard practice.
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