Oklahoma Employee Property Agreement
Description
How to fill out Employee Property Agreement?
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FAQ
(b) The seller shall disclose material defects of which the seller has actual knowledge.
A Seller must complete, sign and date this disclosure form and deliver it or cause it to be delivered to a purchaser as soon as practicable, but in any event no later than before an offer is accepted by the Seller.
If parties are not personal acquaintances, which is the vast majority of transactions, the general practice is to use anywhere from 1 ? 3% of the total purchase price; 1% is an extremely common earnest money amount in Oklahoma residential transactions.
Stat. § 833, also known as the Residential Property Condition Disclosure Act. It says that Oklahoma property sellers must deliver to the purchaser either a "disclaimer statement" (indicating that you won't be making disclosures) or a "property condition disclosure statement," which lists defects.
A benefit assessment is an involuntary charge that property owners pay for a public improvement or service that provides a special benefit to their property. The amount of the assessment is directly related to the amount of the benefit their property receives.
California law requires only that sellers disclose known defects, with no obligation to search them out or get expert eyes on the house, such as by getting a home inspection.
Consideration does not have to be a payment, though; it can also be another good or service. Most business contracts are in writing, though Oklahoma law does allow for oral contracts. For a written contract to be valid, it should be signed and dated by all of the interested parties.
The seller is obligated to complete a disclosure statement in which any possible material defects should be noted. The licensee is responsible for advising the seller of this duty and for providing an appropriate form for the seller's use.
