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Which of the following includes the required information in the Property section of a Delaware sales contract? The property's legal description. The property's legal description must be included in the sales contract, because it's more accurate than the property's street address.
The elements that make up a listing agreement. Names, addresses, and contact information for both the owner and the agent. The time period in which the property will be listed for sale. The listing price of the property. The type of listing agreement being entered into.
Delaware law requires sellers of residential real property to provide a disclosure report to any potential buyer listing all the material defects that the seller is aware of. Residential real property means a manufactured housing lot or real property that has a residential dwelling for one to four families present.
By law in the state of Delaware, home sellers are required to disclose any known defects regarding a property before the time of sale. This is to ensure that buyers are protected from buying homes or properties that are, in effect, lemons.
Chapter 25, Title 6 of the Delaware Code, requires a Seller of residential property to disclose in writing all material defects of the property that are known at the time the property is offered for sale or that are known prior to the time of final settlement.