Sellers of most residential real estate in Pennsylvania are required by law to provide potential buyers with a written statement, desribing material defects in the property, before entering into an Agreement of Sale. The law defines a material defect as "a problem with the property...that would have significant adverse impact on the value of the [property] or that involves an unreasonable risk to people..."
The Seller's Property Disclosure Statement is a state-mandated question/answer form, covering many aspects of the property. It is intended to assist the seller in complying with the legal disclosure requirements and to assist the buyer in evaluating the property. However, it is not exclusive - the seller is obligated to disclose all known material defects, even if they are not covered by the form.
And, while the seller is required to provide accurate and complete information to the best of the seller' knowledge and belief, the Statement is not a warranty. It is not intended to be a substitute for the buyer's own inspection of the property.