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In the United States, a seller disclosure statement is a form disclosing the seller's knowledge of the condition of the property. The seller disclosure notice or statement is anecdotal and does not serve as a substitute for any inspections or warranties the purchaser may wish to obtain. It also does not serve as a warranty of any kind. [1 ...
Some states, such as New York, require that a seller provide a property condition disclosure statement to the buyer outlining in detail the full condition of the property. Depending upon the jurisdiction and traditional practice, a title search is then ordered from a third party settlement or escrow company, pending final settlement.
Property condition assessments (PCAs) (also known as the property condition report, or PCR) are due diligence projects associated with commercial real estate.Commercial property and building inspections are important for clients seeking to know the condition of a property or real estate they may be purchasing, leasing, financing or simply maintaining.
The estimation of the diminution in value is usually defined as the difference between the value of the entire property before the taking or without the condition and the value of the property or any remainder after the taking or with the condition. The valuation of property for estimating just compensation due for a partial taking of property ...
Real estate appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value).Real estate transactions often require appraisals because every property has unique characteristics.
A real estate contract may specify in what condition of the property should be when conveying the title or transferring possession. For example, the contract may say that the property is sold as is, especially if demolition is intended.