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  • Alaska Seller's Disclosure of Financing Terms for Residential Property...

Alaska Seller's Disclosure of Financing Terms for Residential Property in connection with Contract or Agreement for Deed a/k/a Land Contract

Category:
Real Estate - Contract for Deed
State:
Alaska
Control #:
AK-00470-3
Format:
Word; 
Rich Text
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Description

This Seller's Disclosure Notice of Financing Terms Contract for Deed serves as notice to Purchaser of the purchase price of property and how payments, interest, and late charges are set. This document should be completed by Seller of property and provided to the Purchaser at or before the signing of the contract for deed.

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Related legal definitions

How to fill out Alaska Seller's Disclosure Of Financing Terms For Residential Property In Connection With Contract Or Agreement For Deed A/k/a Land Contract?

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FAQ

A Seller is not required to provide a PCDS in British Columbia. If a Seller is not willing to provide a PCDS, they may not be disclosing a major issue with the property. The fact a Seller is not willing to provide a PCDS to a potential Buyer should be cause for concern to the Buyer.

In general, a disclosure document is supposed to provide details about a property's condition that might negatively affect its value. Sellers who willfully conceal information can be sued and potentially convicted of a crime. Selling a property As Is will usually not exempt a seller from disclosures.

Property disclosure statements essentially outline any flaws that the home sellers (and their real estate agents) are aware of that could negatively affect the home's value. These statements are required by law in most areas of the country so buyers can know a property's good and bad points before they close the deal.

Real Estate Transfer Disclosure Statement (TDS) The Transfer Disclosure Statement, also known as the TDS, is a form required by California law in most residential real estate transactions pursuant to California Civil Code 1102.

Who Must Make These Seller Disclosures in California. As a broad rule, all sellers of residential real estate property containing one to four units in California must complete and provide written disclosures to the buyer.

Property disclosure statements essentially outline any flaws that the home sellers (and their real estate agents) are aware of that could negatively affect the home's value. These statements are required by law in most areas of the country so buyers can know a property's good and bad points before they close the deal.

You will need to include information about all appliances in the home, including which are included in the sale as well as whether they are operational. You will also need to disclose any room additions, damage, or neighborhood noise problems.

Once both buyer and seller sign the purchase agreement, the contract is legally binding. In many cases, however, the contract has contingencies or certain conditions that must be met in order for the sale to go through.

Death in the Home. Neighborhood Nuisances. Hazards. HOA Information. Repairs. Water Damage. Missing Items. Other Possible Disclosures.

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Alaska Seller's Disclosure of Financing Terms for Residential Property in connection with Contract or Agreement for Deed a/k/a Land Contract
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