Key Takeaways
- Oklahoma requires sellers to provide a Residential Property Condition Disclosure Statement
- The disclosure must be provided before a purchase offer is accepted
- Brokers have a duty to obtain and make available the disclosure statement to buyers
- Lead-based paint disclosure is required for homes built before 1978 (federal law)
- Sellers must disclose known material defects that affect property value or desirability
Oklahoma Property Disclosures
Oklahoma requires sellers of residential property to disclose material information about property condition through the Residential Property Condition Disclosure Act.
Residential Property Condition Disclosure Act
Oklahoma's Residential Property Condition Disclosure Act requires sellers to provide buyers with a written disclosure statement about the property's condition.
Who Must Provide Disclosure
| Required | Not Required |
|---|---|
| Residential property sellers | Foreclosure sales |
| Owner-occupied or rental properties | Estate/probate sales (some exemptions) |
| Most residential transactions | New construction (builder warranties apply) |
When to Provide
The disclosure statement must be provided:
- Before a purchase offer is accepted
- Ideally at the time property is listed or shown
Key Rule: If the buyer has a broker, the buyer's broker has the duty to obtain and make available the seller's disclosure statement to the buyer.
What Must Be Disclosed
Property Condition Items
| Category | Examples |
|---|---|
| Structural | Foundation, walls, roof, attic |
| Systems | Plumbing, electrical, HVAC, water heater |
| Appliances | Included appliances and their condition |
| Environmental | Known hazards, flooding, drainage |
| Legal | Easements, encroachments, zoning issues |
| Other | Termite damage, repairs made, insurance claims |
Material Defects
Sellers must disclose known material defects that:
- Affect the property's value
- Affect the property's desirability
- A reasonable buyer would want to know
Disclosure Responses
Sellers typically respond to disclosure questions with:
- Yes - Issue exists or is known
- No - Issue does not exist to seller's knowledge
- Unknown - Seller does not know
- N/A - Not applicable to this property
Broker Responsibilities
Duty to Obtain Disclosure
Brokers have specific duties regarding property disclosures:
| Broker Role | Disclosure Duty |
|---|---|
| Seller's broker | Ensure seller completes disclosure |
| Buyer's broker | Obtain disclosure and provide to buyer |
Important: If the seller does not have a broker but the buyer does, the buyer's broker must still obtain the disclosure from the seller.
What Brokers Must Disclose
Brokers must disclose information:
- Required by the Residential Property Condition Disclosure Act
- That constitutes a material defect known to the broker
- Required by the Oklahoma Real Estate License Code
Federal Lead-Based Paint Disclosure
For homes built before 1978, federal law requires:
| Requirement | Details |
|---|---|
| Disclosure | Known lead-based paint hazards |
| Pamphlet | EPA pamphlet "Protect Your Family From Lead" |
| Inspection period | Buyer has 10 days to inspect (can be waived) |
| Form | Lead-Based Paint Disclosure form |
Warning: Lead-based paint disclosure is REQUIRED regardless of Oklahoma's general disclosure requirements. This is federal law that supersedes state law.
Stigmatized Property
Oklahoma law addresses certain stigmatized property issues:
Generally Not Required to Disclose
| Item | Status |
|---|---|
| Deaths on property | Not required unless asked |
| Criminal activity | Generally not required |
| Proximity to sex offenders | No duty to investigate or disclose |
Exception: Direct Questions
If a buyer directly asks about a specific issue and the broker/seller knows the answer, they should respond honestly.
Consequences of Non-Disclosure
Failure to provide required disclosures can result in:
- Rescission of the contract
- Monetary damages
- License disciplinary action
- Civil liability
When must an Oklahoma seller provide the Residential Property Condition Disclosure Statement?
If a seller does not have a broker but the buyer does, who has the duty to obtain the disclosure statement?
Under federal law, which disclosure is ALWAYS required for homes built before 1978?