Chapter 18 Flashcards
Acknowledgment of receipt by buyer
I acknowledges that they have received all document
If you or any former owners have remodeled or made any structural changes to the property
Addition/re-models
Do you have any alternate/additional power systems that supply power to the property?
Alternate/additional power systems
Any problems with dishwasher, dryer, freezers, microwave, etc.
Appliances
Is there any fence deck or other improvement extends onto any adjoining property
Boundaries & easement
Buyer should consult with local zoning officials to assure that the buyers intended use of the property complies with
Building code/zoning compliance
Illegally binding document
Buyer due diligence checklist
If the seller updates the form they must re-sign and date
Disclosure form update
Any problems with electrical switches outlets, or any portion of the electrical system?
Electricical
Turn your own ship of the property have you had any independent energy efficiency assessment of the property conducted?
Energy efficiency
Any problems with air central VAC sprinkler system, security smoke alarm, etc.
Equipment
The buyer has decided to cancel their transaction based on the fact that they discovered the property is haunted which form should be used
Buyers notice of cancellation
According to the buyer due diligence checklist, the suggested remedy for handling an issue with lead-based paint is
To consult with appropriate professionals
If the property is going to be taxed as a green belt, the location for the remainder to check on this on the buyer due diligence, checklist can be found on what page
Page 3
The purpose of the buyer due diligence checklist is
To provide a general list of issues, the buyer should consider in evaluating the property
The sellers obligation to disclose to the buyer and all defects in the property is
Required by law, regardless of occupancy
The Walters are selling their ranch. They’re aware that the fence and roaches the adjoining property, the location of the disclosure regarding this encroachment can be found in the seller property condition disclosure on what page
Page 4
Susan, seller is aware of a problem with the air conditioner of the home. She is selling the location of the disclosure regarding disclosure of issues related to the air conditioner can be found in the seller property condition disclosure on which page.
Page 3
The location of the disclosure regarding square footage can be found in the seller property condition disclosure on which page
Page 6
What is the purpose of the seller property condition disclosure
Allowing the seller an opportunity to provide complete an accurate disclosure regarding all material facts affecting the property
The purpose of the transaction dock receipt is to
Provide proof that specific documents were delivered
