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 78

Inspection contingency Inspection Seller disclosure Due diligence 78

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 83

Purchase and sale agreement Title Closing costs Seller disclosure 83

HomeLight

OCTOBER 17, 2022

Here’s a summary of specific things the disclosure statement addresses: General: Year the home was built, and if it’s vacant, occupied, or leased. Lead-based paint: If constructed or manufactured prior to 1978. Litigation and insurance: Related to negligent construction or defective building products, related insurance claims, etc.

Purchase and sale agreement 91

Purchase and sale agreement Due diligence Earnest money deposit Inspection 91