Louisiana Divorce Cost For Spouse
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FAQ
By law, a Pennsylvania real estate sales agreement must provide a description of the property and any identifiable damage. Sellers must disclose any structural defects or problems tied into the property. This is to ensure buyers sign and agree to the sale with a full understanding of the property's condition.
Do you have to report a death in your home while selling real estate in Pennsylvania? Pennsylvania supreme court ruled in Milliken v Jacano that psychological stigma is not considered a material defect. Since this ruling, agents and sellers are not required to disclose death on property.
Common issues that require disclosures include anything that may cause major foundation issues to a property or endanger a prospective buyer or the integrity of the house.
Pennsylvania courts have routinely held that sellers must disclose known material defects to avoid deceit, fraud or misrepresentation, even when the seller disclosure law provides an exception. For example, let's say that the executor of an estate is aware that the home regularly gets water in the basement.
Lying on the PA Disclosure Statement Failing to disclose something important about the property, is very likely that the Seller will either need to settle (which means paying to fix the problem), or hire a lawyer.
The Pennsylvania Real Estate Seller Disclosure Law allows a buyer to sue for three times the actual amount of damages. A buyer might also sue the seller for fraud.
A seller must disclose to a buyer all known material defects about property being sold that are not readily observable. This disclosure statement is designed to assist the seller in complying with disclosure requirements and to assist the buyer in evaluating the property being considered.