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T) with ("Escrow Agent") of $ by check. The Deposit will be placed in an escrow account of the Escrow Agent after Date of Ratification to comply with the laws and regulations of the appropriate jurisdiction. This account may be interest bearing and all parties waive any claim to interest resulting from the Deposit. The Deposit will be held in escrow until (i) credited toward the Sales Price at Settlement, (ii) all parties have agreed in writing as to the disposition, (iii) a court of competent j.

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What does selling a house “as is” mean? Selling a house “as is” means that the buyer will take it in its current state — warts and all. Specifically, the two parties are in agreement that no repairs or improvements will be made by the seller before the sale.

§ 5-104. Contracts for sale or disposition of interests in land required to be in writing.

Selling a house “as is” in Maryland While sellers can opt to issue a disclaimer/sell the house "as is", they still need to mention latent defects - and be advised, buyers may see a disclaimer as an attempt to hide something. A latent defect is a problem that's known to the seller, but not visible to the buyer.

“As is” refers to a term used in sales contracts where the buyer agrees to buy a product in its current condition, without legal recourse should the buyer discover a defect in the product after purchase.

Real Estate Disclosure Law in Maryland Code § 10-702, requires sellers of residential real estate to complete a form—known as the Residential Property Disclosure and Disclaimer Statement—setting forth conditions and defects with the property.

Yes. For most conventional mortgages, lenders typically require that the home be habitable. Defects such as worn flooring and damaged interior walls can be acceptable. Government-backed home loan options, like FHA, USDA, or VA loans, come with minimum property requirements.

Section 10-702 of the Real Property Article, Annotated Code of Maryland, requires the seller of certain residential real property to furnish to the purchaser either (a) a RESIDENTIAL PROPERTY DISCLAIMER STATEMENT stating that the seller is selling the property "as is" and makes no representations or warranties as to ...

Failure to disclose defects isn't just a bad practice, it is also against Maryland law. The property's owner should be forthcoming about defects that they are aware of. The agent or party selling the property should communicate those defects to buyers.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232