Standard Form Essentials: Property Disclosure Statement Residential

Standard Form Essentials: Property Disclosure Statement Residential is an essential course on property disclosures. It discusses the differences between patent defects, latent defects disclosed by sellers under common law, and material latent defects disclosed by REALTORS^® under the Real Estate Services Rules. The course touches upon stigmas, explains the difference between defects and stigmas, and reminds Realtors of when stigmas should be disclosed. 

Next, the course delves into the most common form used for property disclosures: BCREA’s standard form Property Disclosure Statement Residential (PDS). Learners examine each question in the PDS along with additional explanations, helpful follow-up questions, and practice tips. In the advanced topics module, learners dive deeper into two newer sections in the PDS: radon and archaeology.

The Property No-Disclosure Statement (PNDS) is also introduced as an alternative to the PDS when a seller may not have sufficient knowledge of the property or choose not to fill out a PDS. In addition, the course provides guidance on when the REALTORS^®’ Disclosure of Material Latent Defects form may be appropriate, even if the seller has completed a PDS. The course concludes with REALTOR^® best practices to mitigate disclosure risks. 

Standard Form Essentials: Property Disclosure Statement Residential is available as a self-paced online or instructor-led offering. To see dates for instructor-led offerings, please see the current course calendar here. BCREA's full list of self-paced online offerings is available via REALTOR Link® here.

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