Contracts
Under Michigan law, the Seller's Disclosure Statement must be updated and re-delivered to the buyer if the seller becomes aware of a new material defect:
AOnly before the offer is submitted
BAt any time before closing if conditions change✓ Correct
COnly within 10 days of the accepted offer
DThere is no requirement to update the disclosure after it is initially provided
Explanation
Michigan's Seller Disclosure Act requires sellers to update their disclosure if they become aware of new material defects after the initial disclosure but before closing. The buyer must receive the updated disclosure and may have rescission rights.
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