A Pennsylvania purchase agreement creates a secured contract for the transaction of a residential property. The form records critical details such as buyer and seller information, a property description, the method of financing, and sales price. The contents of the agreement are generally negotiated between the buyer and seller and endorsed upon acceptance.
Last updated September 21st, 2024
A Pennsylvania purchase agreement creates a secured contract for the transaction of a residential property. The form records critical details such as buyer and seller information, a property description, the method of financing, and sales price. The contents of the agreement are generally negotiated between the buyer and seller and endorsed upon acceptance.
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Lead-Based Paint Disclosure ( 42 U.S. Code § 4852d) – For all homes to be sold that were constructed in 1978 or earlier, a supplemental informational packet must be distributed to the buyer. The descriptive paperwork educates the purchaser of the risks linked to lead-composed paint and health hazards that may result from contact with the substance.
Pennsylvania Seller’s Property Disclosure Statement (§ 7304) – The state of Pennsylvania stipulates the obligation for the seller of a property to equip the buyer with a property disclosure statement. The supplied form contributes a general idea of the condition of the building and land, to the best understanding of the seller. It is recommended the buyer contract the services of a licensed inspector to investigate the condition of the home further before the sale has concluded.
Standard Agreement for the Sale of Real Estate – PDF
