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Seller's Disclosure Act of 1993
Instructor: John Henderson
Module 1 - Seller Disclosure Act
The Seller Disclosure Act was created by the Michigan legislature in 1993. Prior to the Act becoming law, most communication regarding the condition of a home was verbal. Often, buyers would ask their buyer’s agent a question about a prospective property. That agent would in turn ask the listing agent and that agent would ask the seller. As you could imagine, because the answer was transferred verbally through so many people, it was possible to miscommunicate – either intentionally or accidentally an incorrect or insufficient answer. The Seller Disclosure Act created an obligation on behalf of the seller to make a written statement regarding the condition of the property.