HomeLight

OCTOBER 17, 2022

Meaning, buyers are charged with performing due diligence during real estate transactions to ensure they’re buying a product they’re satisfied with. Home sellers in the state only need to disclose defects in the property that cannot be readily discovered by reasonable investigation. This is known as the due diligence period.

Purchase and sale agreement 94

Purchase and sale agreement Due diligence Earnest money deposit Inspection 94

HomeLight

MAY 28, 2021

Seller disclosures. In many states, seller disclosure forms are required to complete a real estate transaction. Each state has different requirements , but basically the seller is required to tell the buyer of any known problems with the house. Many new construction homes come with a home warranty from the builder.

Inspection contingency 81

Inspection contingency Inspection Seller disclosure Due diligence 81

HomeLight

DECEMBER 30, 2021

Some states require sellers to fill out a seller disclosure statement documenting known repair needs or health and safety hazards in the home. This can include anything from knowledge of lead-based paint or asbestos, to the seller’s awareness of water damage in the basement, a leaky roof, or damaged plumbing.

Purchase and sale agreement 86

Purchase and sale agreement Title Closing costs Seller disclosure 86