In real estate transactions for the sale of improved residential real property, absent an express waiver or exemption, sellers must provide buyers with a completed seller disclosure statement no later than five business days after mutual acceptance of a written purchase agreement. The disclosure statement requires the seller to answer (1) "yes," (2) "no," or (3) "don't know" on a list of items, and if the questions require, the seller is given space to provide more details. The seller disclosure statement includes the following categories:
Within three business days of receipt of the disclosure statement, the buyer may approve and accept the disclosure statement or rescind the purchase agreement. If the disclosure statement is delivered late or not delivered, the buyer's right to rescind expires the earlier of three days after receipt of the disclosure statement or the date the transfer closes.
The seller disclosure statement is amended to include questions about whether the property has access to high-speed Internet, who the Internet provider is, and the maximum upload and download speeds available. The seller may answer by providing the information or by checking the "don't know" boxes.