What is required from the seller regarding property disclosure in Oregon?

In Oregon, the seller is required to disclose known issues and material facts about the property to potential buyers. This obligation is governed by state law, specifically the Oregon Revised Statutes, which aim to ensure that buyers are fully aware of any potential problems that could affect their decision to purchase the property.

The seller must fill out a property disclosure statement detailing any issues such as past water damage, presence of hazardous materials, or structural concerns. This transparency helps to prevent misunderstandings and legal disputes after the sale, as buyers have a right to know about the condition of the property they are considering.

By mandating the disclosure of known issues and material facts, the law enhances consumer protection and promotes fair dealing in real estate transactions. This requirement is a cornerstone of ethical real estate practice in Oregon, allowing buyers to make informed choices regarding their investments.