Foreclosure and REO Sales Disclosure Chart (for Residential 1-4 Unit Properties)
With the recent resurgence of foreclosures and sales of REO properties--those properties that lenders sell after foreclosing on them--this chart is designed to provide REALTORS® and their clients with an easy-to-use reference guide for determining the general applicability of the law to these types of sales transactions for residential 1-4 unit properties.
The same information is available in the Sales Disclosure Chart for REALTORS® and greater detail can be found regarding the disclosure triggers in the Summary Disclosure Chart for REALTORS®. For example, the chart may indicate a "yes" for the Lead-Based Paint disclosure requirement; however, it is only required for properties built before 1978.