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 84

Purchase and sale agreement Title Closing costs Seller disclosure 84

HomeLight

AUGUST 16, 2021

It’s possible for the zoning rules to change after construction, or even for mistakes to happen, such as the builder constructing a duplex in a neighborhood where duplexes are not allowed. Talk to your agent about seller disclosures in your state. It’s not zoned for its use.

As-is 120

As-is Title Inspection Inspection contingency 120

Redfin

AUGUST 25, 2021

Over the course of a 30-year mortgage, the likelihood of a flood is 26%. Areas in this zone still have a 1% chance of flooding each year with a 26% chance of flooding over the course of a 30-year mortgage. A99 An area protected upon completion of an under-construction federal flood protection system like a dam or levee.

Seller disclosure 79

Seller disclosure Construction Design As-is 79

HomeLight

OCTOBER 20, 2022

If you need assistance navigating the legalities of what to disclose when selling a home in New Jersey (NJ) or using seller disclosure forms, HomeLight always encourages you to reach out to your own advisor. For that reason, sellers have the option of responding to the questions by marking yes, no, or unknown.

Purchase and sale agreement 91

Purchase and sale agreement Inspection Construction Land 91

HomeLight

NOVEMBER 16, 2021

Many licensed home inspectors have backgrounds in construction, which makes for a great inspection as this gives them the knowledge of what potential issues can look like from the builder’s point of view. When a home is deemed “uninsurable,” this means that it does not qualify for mortgage loans because of the need for extensive repairs.

Inspection 103

Inspection Housing Inspector Seller disclosure Renovation 103

HomeLight

FEBRUARY 28, 2021

The construction quality isn’t always as good these days as maybe in the olden days,” he explains. Always check if the property is in a flood zone, and know that your mortgage lender may require flood insurance, which can average $500-$750 per year. I’d almost rather take something old than something new in terms of building quality.”.

Inspection 61

Inspection Residential Seller disclosure Land 61