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A bill of sale, or a gift letter, from the seller is always required. The letter is required to verify the transfer of ownership from the seller to the buyer and to determine the amount of RI sales tax to be charged to the buyer.
Anyone can draft a bill of sale in Rhode Island. As long as the document has been signed by the buyer and the seller, it can be legally binding. Getting a bill of sale notarized can help it hold up in court.
The Seller of any interest in residential real property is required to provide the Buyer with any information on lead-based paint hazards from risk assessments or inspections in the Seller's possession and notify the Buyer of any known lead-based paint hazards.
The RRP Rule applies to painting, construction, carpentry, plumbing, or electrical work done on homes and buildings built before 1978. These buildings are assumed to contain lead-based paint unless a licensed Lead Inspector or certified Lead Renovator tests the paint to make sure that it is not lead based.
Real Estate Sales Disclosures ? Single/Multi RI law requires a seller to disclose known deficient conditions to potential buyers.
It is not mandatory to hire an attorney for selling a house in Rhode Island without a Realtor. However, we recommend you hire one. A licensed real estate attorney will help you draft all the closing documents and minimize the legal risks. Typically, the real estate attorney fee ranges between $150 and $500 per hour.
Seller is legally required to provide the Buyer with a copy of any previous surveys of the property and documentation of conservation and/or preservation easements and restrictions that are in the Seller's possession and notify the Buyer of any known easements, encroachments, covenants or restrictions of the Seller's ...
Rhode Island law requires Seller to provide, at no charge, copies of all available reports and certificates to which Seller has access within seven (7) days of a request by Buyer.