Property Condition Disclosure Act Amendment Effective March 20, 2024

An amendment to the Property Condition Disclosure Act took effect Wednesday, March 20, 2024. 

As of March 20, 2024, sellers must be provided the updated 7-page/56-question Property Condition Disclosure Statement (PCDS), which can be found here.  Licensees with active listings not already under contract as of March 20, 2024, should also give the new PCDS form to the seller.  Updated versions of the OneKey Exclusive Right to Sell Agreement, which can be found here, and the Property Condition Buyer’s Rights & Seller’s Obligations form, which can be found here, have revised language documenting sellers’ and buyers’ rights and obligations under the amended law. 

To assist our members, LIBOR has prepared a Webinar and FAQ with more information about the Property Condition Disclosure Act amendment.