Disclosures

The information below is not to be construed as legal advice, and is only intended to guide you through the initial learning process. While it is not mandatory, it is recommended that you consult Professional Legal Advice when completing the Seller’s Property Disclosure SPD 19-10-05.

About Disclosures

Disclosures serve a dual purpose and are beneficial to both the buyer and the seller. A disclosure statement lets buyers have detailed information regarding the condition of the home they are about to purchase. It also protects the seller from any future legal action brought on by a buyer, because the buyer will have been fully informed about the condition of the. This way, both parties are equally accountable. The seller must provide the buyer with full disclosure and the buyer must make an educated decision based on this information. So, the more detailed the disclosure, the better. Sellers can provide additional disclosure information not required by the SPD 19-10-05 (see below) in order to more fully inform the buyer and to better protect themselves. It’s a win-win situation.

Disclosures in the State of Colorado

The State of Colorado provides an inclusive disclosure form that must be completed prior to the sale of a home. The Seller’s Property Disclosure (SPD 19-10-05) must be completed correctly “to the best of the Seller’s CURRENT ACTUAL KNOWLEDGE as of this Date”. This form covers disclosures on “Structural Conditions” and “Appliances” and also things such as “Noxious Weeds”. Due to the complexity of the form, the state provides Guidelines for Using the New SPD Form on their legal documents website. However, as stated at the top of the form, “This form has important legal consequences and the parties should consult legal and tax or other counsel before signing”. If you would like, you may visit our Partner Law Firms page to see what assistance is available to you as an FSBOMetroDenver.com customer. The standard seller’s service package includes assistance with filling out the SPD 19-10-05.

Due to the extensiveness of the SPD 19-10-05, an attorney will recommend that the seller have an inspection of the property performed. An inspector will be able to provide information about the condition of the vast majority of required items. For more information about home inspectors and the inspection process itself, as well as our list of qualified inspectors, see our Partner Inspection Services page.