Real Estate Seller Disclosure Law 68 Pa C S a Section 7301 Form
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People also ask
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What are the requirements for disclosure in NY?
The heart of the disclosure requirements in New York revolves around the physical condition of the property and any known defects. Sellers must disclose information regarding the structural integrity of the building, including the condition of the foundation, roof, walls and floors.
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Who would have an obligation to disclose a property value to a buyer?
In California, the seller of a residence has both a common law and statutory duty of disclosure to the buyer, and even full compliance with the statutory duty does not excuse the common law duty.
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Whose responsibility is it to fully disclose in full seller disclosure states?
In full disclosure states, the seller's agent has a responsibility to notify the seller of the duty to disclose all known material facts.
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Who has primary responsibility for disclosing the condition of a property?
In California, the seller of a residence has both a common law and statutory duty of disclosure to the buyer, and even full compliance with the statutory duty does not excuse the common law duty.
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Which sellers are required by Pennsylvania state law to disclose environmental hazards?
Pennsylvania sellers of homes and individual condominium units must, by law, advise potential buyers of the property about "known material defects" that are not readily observable, including structural problems, hazardous substances, and more, before the sale is completed.
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Which person is responsible for filling out a property disclosure statement quizlet?
The seller must disclose all known material facts about the property that could reasonably influence a buyer's decision to buy. The listing agent should give the seller a Seller Property Disclosure Statement to fill out at the initial listing appointment.
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What does the seller property disclosure statement required by the Pennsylvania Sewage Facility Act inform prospective buyers of?
Any seller who intends to transfer any interest in real property shall disclose to the buyer any material defects with the property known to the seller by completing all applicable items in a property disclosure statement which satisfies the requirements of section 7304 (relating to disclosure form).
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What are the seller disclosure requirements in PA?
A seller must disclose to a buyer all known material defects about property being sold that are not readily observable. This disclosure statement is designed to assist the seller in complying with disclosure requirements and to assist the buyer in evaluating the property being considered.
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