What must a seller provide to a buyer during a real estate transaction in Maryland?

A seller in Maryland is required to provide a property disclosure statement to the buyer during a real estate transaction. This document outlines the condition of the property and any known issues that could affect its value or desirability. It includes information about structural integrity, safety hazards, environmental concerns, and other relevant factors that could influence a buyer's decision. The intention behind this requirement is to promote transparency and facilitate informed decision-making by the buyer, thereby reducing the risk of disputes after the sale.

In Maryland, the property disclosure statement is a legally mandated document that protects both the buyer and the seller. By disclosing known issues, the seller can potentially avoid future legal repercussions related to nondisclosure or misrepresentation about the property’s condition.

Other options, while they may be relevant in certain contexts or negotiations, are not universally required by law in Maryland for transaction completion. For instance, property appraisals and inspection reports can be beneficial, but they are typically procured by buyers or lenders rather than provided by sellers. A property listing agreement is relevant to real estate agents in their representation of the seller but is not a direct requirement for the sale itself.