What is the purpose of the seller's property disclosure statement?

The seller's property disclosure statement is primarily designed to disclose known issues with the property to potential buyers. This statement serves as a legal document that provides transparency about the condition of the property and any problems that may exist, such as structural issues, plumbing problems, mold, or pest infestations. By offering this information, the seller is fulfilling a responsibility to inform buyers, which can help prevent disputes after the sale and ensure that the buyer is making an informed decision.

This disclosure requirement is aimed at promoting honesty in real estate transactions and protecting both parties’ interests. It provides buyers with the information they need to assess the property accurately, understand any potential risks, and make an informed offer. Thus, the correct answer reflects the key role that the seller's property disclosure statement plays in the transaction process.