VIDEO: Help Your Clients Understand the Property Disclosure Statement
CATEGORY: Standard Forms
TAGS: Client Engagement Property Disclosure Statement Real Estate Practice Standard Forms Videos Videos
BCREA has created a video for REALTORS® to share with clients to help them better understand the Property Disclosure Statement (PDS).
The PDS is one of the most frequently used standard forms and it allows sellers to disclose facts about the condition of the property so that buyers can make informed decisions when considering purchase a property.
Share this video with your clients to help introduce the PDS, so they can familiarize themselves with the purpose of this standard form, ensuring they are comfortable with the document prior to completing it.
After watching the video, your clients will:
- be introduced to examples of disclosure questions;
- walk through how to complete the PDS;
- understand the difference between Latent Defects and Material Latent Defects;
- know the Realtor's responsibility to disclose Material Latent Defects
- and more.
With this new video, Sellers will understand the benefit of completing the PDS. Everyone is better protected when they know their right and responsibilities.
Realtors can learn more about the different types of Property Disclosure Statements on the new Standard Forms Resource Centre in the following training toolkits (REALTOR Link® log-in required):
- Property Disclosure Statement (Land Only) Toolkit
- Property Disclosure Statement (Strata Title Properties)
- Property Disclosure Statement Addendum (Land and Building) Toolkit
- Property Disclosure Statement Residential Toolkit
- Property Disclosure Statement Rural Premises (Land and Building) Toolkit
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