Home > 2012 > Important News from CAR: More Property Condition Disclosure Changes

Important News from CAR: More Property Condition Disclosure Changes

Connecticut Association of REALTORS logoThe Connecticut Association of REALTORS® wanted to bring to your attention House Bill 5087, passed by the legislature, which changes the Property Condition Disclosure form. A summary is provided below.

Although the original bill was supported by CAR, the Association could not support the final version (HB 5087). Following a public hearing on the original bill, the General Law Committee tacked-on new disclosure requirements that went beyond a “Working Group’s” recommendations. In particular, the new requirement for home sellers to respond to a question pertaining to hazardous substances was not in the Work Group’s recommendations. CAR expressed concerns that the wording was ambiguous and would invariably lead to arguments. It struggled to have the wording amended during the last 8 days of the session, but the Committee Chairs resisted out of concern that time was running out. Senator Kevin Witkos (R, Canton) did obtain a somewhat clearer “statement of intent” from Senator Paul Doyle (D, Wethersfield) by posing questions on the floor. Passed and signed by the Governor as PA 12-122.

NOTE: THE “CREDIT” A SELLER must provide to buyers for noncompliance with the law is increased effective July 1, 2012, from $300 to $500. The changes in the form are effective January 1, 2013.

Posted in Uncategorized | Tagged , | 1 Comment

One Comment

  1. Stephen Douglas
    Posted July 5, 2012 at 9:20 am | Permalink

    What happens when a buyer’s agent presents an offer without providing a property disclosure signed by the buyer?
    Note:The disclosure is available as an “attechment” on mls. We as listing agents have an obligation to present each and every offer. I suggest shifting the burden onto the buyers agent. They should be pnalized for not properly acting in everyones best interest.
    Thank You!
    Steve Douglas

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