contracts

Seller's Disclosure of Property Condition (KREC Form 402)

The Kentucky form required by KRS 324.360 when a licensee is paid on the sale of a single-family home, duplex, triplex, fourplex, condominium or townhouse. It covers at least the basement, roof, water supply, sewage service and component systems. The seller completes it at listing; a licensee may not fill it in unless the owner asks in writing on the form. For listed property it must be delivered within 72 hours after the listing agent receives a signed written offer. New homes with warranties, auctions and court-supervised foreclosures are exempt.