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Buyer Beware! Surrey REALTOR Explains BC Property Disclosure Statement

Buyer Beware! What is the BC Property Disclosure Statement and why is it an important form for both the seller and the buyer?

The Property Disclosure Statement (PDS) is a form in which sellers disclose facts about the condition of the property. This form is important for buyers as it provides them with information about the property that the seller is aware of including any material latent defects (serious defects that are not commonly discoverable during an inspection). Disclosure of all known issues in the PDS allows the buyer the opportunity to do additional due diligence that they may not have done had they not been made aware of the issues.

While the PDS is not a mandatory form in BC, it does provide a layer of protection to the seller as well, minimizing the risk of potential claims after the sale of the property for non disclosure.

In this video, Surrey REALTOR® Steve Karrasch of Macdonald Realty walks through the current Property Disclosure Statement - Residential form providing information on how to correctly complete the form and how critical it is for a seller to complete this form honestly with full disclosure of the known condition of the property.

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If you are looking for help or have any questions regarding real estate in Surrey, B.C. or the Fraser Valley, please reach out below using which ever way is most convenient. We also service real estate sales in Langley, Delta, White Rock, Abbotsford, Mission, and more Greater Vancouver Cities.

Book time with Steve
call or text: 604-549-5828
email: steve@krproperties.ca

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