The Seller’s Property Disclosure Statement (SPDS)

The SPDS is a detailed summary of the home’s history, completed by the seller. It includes information about past repairs, known defects, and any details that could impact the property’s value or how it can be used.

As a buyer, you’ll receive this document within three days after contract acceptance. You’ll then have the opportunity to review it and, if needed, conduct additional inspections or investigations during the inspection period or within five days after receiving it, whichever comes later.

This document is designed to ensure you have a thorough understanding of the home’s condition, empowering you to make an informed decision.

The Insurance Claims History

This document provides a five-year record of insurance claims related to the property, such as water damage, storm damage, or structural issues. If the seller has owned the home for less than five years, they’ll provide the claims history for their ownership period.

You’ll receive this report within five days after contract acceptance, with the same review period as the SPDS. This record is an essential tool for uncovering any patterns or risks that may warrant further investigation or consideration.

Why These Documents Matter

Both the SPDS and Insurance Claims History provide vital insights into a property’s past. They help you make informed decisions and determine whether further due diligence or inspections are necessary before moving forward with your purchase.