Pennsylvania Disclosure Form Statement With Multiple Conditions
Description
How to fill out Pennsylvania Residential Real Estate Sales Disclosure Statement?
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FAQ
Under Pennsylvania law, sellers must disclose any known defects or issues that could affect the property's value or desirability. This includes problems with structural integrity, plumbing, electrical systems, and any environmental hazards. Providing a Pennsylvania disclosure form statement with multiple conditions helps set clear expectations and avoids future disputes.
If your home has mold growth, you must disclose it to interested buyers. This includes visible mold and any known defects that could lead to mold contamination, such as water damage or issues with the HVAC system.
What Happens if a Seller Lies on a Property Disclosure Statement in Pennsylvania? If you knowingly submit false information about the property or fail to disclose pertinent information, you can be liable for lawsuit from the buyers.
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.
How Much Money Can the Buyer Ask For? If a Pennsylvania homebuyer can prove an intentional or fraudulent misrepresentation on the part of the seller or the selling broker, the buyer can ask for anything from the actual amount of the damage all the way up to three times the amount.
§ 7303. Any seller who intends to transfer any interest in real property shall disclose to the buyer any material defects with the property known to the seller by completing all applicable items in a property disclosure statement which satisfies the requirements of section 7304 (relating to disclosure form).