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In the United States, a seller disclosure statement is a form disclosing the seller's knowledge of the condition of the property. The seller disclosure notice or statement is anecdotal and does not serve as a substitute for any inspections or warranties the purchaser may wish to obtain. It also does not serve as a warranty of any kind. [1]
The Natural Hazards Disclosure Act, under Sec. 1103 of the California Civil Code, [1] states that real estate seller and brokers are legally required to disclose if the property being sold lies within one or more state or locally mapped hazard areas. The law specifies that the six (6) required hazards be disclosed on a statutory form called the ...
HUD-1 Settlement Statement. The HUD-1 Settlement Statement is a standardized mortgage lending form in use in the United States of America on which creditors or their closing agents itemize all charges imposed on buyers and sellers in consumer credit mortgage transactions. The HUD-1 (or a similar variant called the HUD-1A) is used primarily for ...
Building contingencies into the contract: Most real estate contracts have contingencies that give sellers cause to back out. For instance, the seller may say they will only sell their property if ...
DGS builds all non-highway Capital projects, procures nearly $4 billion of goods and services, serves as the real estate agent for state-owned land and leases, oversees the Commonwealth vehicle fleet, maintains all state-owned facilities, implements an energy-management and conservation initiative in all state-owned buildings, serves as the ...
A regulated developer is to provide each purchaser with a disclosure document called a Property Report. The Property Report contains relevant information about the subdivision and must be delivered to each purchaser before the signing of the contract or agreement and gives the purchaser at a minimum a 7-day period to cancel the purchase agreement.
The entity disposing, conveying, and selling the assets is referred to as the seller or vendor. [3] A PSA sets out the various rights and obligations of both the buyer and seller, and might also require other documents be executed and recorded in the public records, such as an assignment, deed of trust, or farmout agreement. [4]
The Pennsylvania Manual (PDF). Vol. 116. Harrisburg: Pennsylvania Department of General Services. ISBN 0-8182-0285-8. Archived from the original (PDF) on October 1, 2011. Schehr, Elizabeth, ed. (2005). The Pennsylvania Manual (PDF). Vol. 117. Harrisburg: Pennsylvania Department of General Services. Archived from the original (PDF) on June 28, 2009.
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