When must the seller submit the disclosure statement to a prospective buyer?

The seller must submit the disclosure statement to a prospective buyer before an offer is made. This requirement is in place to ensure that buyers have access to critical information about the property, which can inform their decision-making process. By providing the disclosure statement early in the transaction, sellers allow buyers to review any potential issues, such as structural problems or past repairs, thereby promoting a transparent and informed purchasing environment.

The timing of this disclosure is crucial to help protect both parties involved. If buyers receive this information after an offer has been made or at closing, they might find themselves in situations where they feel misled or uninformed about essential aspects of the property. Thus, addressing the obligation to disclose prior to an offer is designed to facilitate a smoother real estate transaction process.