This form is a Seller's Disclosure Statement for use in a residential sales transaction in Pennsylvania. This disclosure statement concerns the condition of property and is completed by the Seller.
Pennsylvania Residential Purchase Agreement
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How to fill out Pennsylvania Residential Real Estate Sales Disclosure Statement?
The Pennsylvania Residential Purchase Agreement displayed on this page is a versatile legal template created by experienced attorneys in accordance with federal and state regulations.
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FAQ
The Purchase Agreement (PA) document is used to create new purchasing agreements and to modify existing agreements in KFS.
Under Pennsylvania law, this real estate contract is essential to legally transfer ownership of a property to a prospective buyer since it also has both parties' signatures once they agree to all the conditions.
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.
No matter what the circumstance, a buyer and seller can agree to terminate the agreement. The termination may be accompanied by a payment from one party to the other, or no payment.
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.