SCh6 (P7) Seller’s Disclosure

Question 1

Seller at sellers expense shall keep utilities on during the time this contract is in effect

Hey, sellers disclosure of property condition must be given to a bar before he signs and offer to make that offer binding on the buyer

Answer 1

7A

Question 2

If the buyer has not received the seller’s disclosure, he chooses a number of days for the seller to provide it. If the buyer doesn’t receive it within that number of days, he can terminate the contract. If the buyer received a disclosure, the bar will have seven days after receiving it to terminate for any reason.

Answer 2

7B2

Question 3

A seller’s disclosure is not required in a foreclosure, sale, tax sale, sale by guardian, executor, or administrator, or sale by a builder of a new home that has not been lived in. A sellers disclosure is not required if the house is worth less than 5% of the price of the property.

Answer 3

7B3

Question 4

Buyer accepts the property as is

Answer 4

7D1

Question 5

If lender required repairs exceed 5% of the sale price, buyer may terminate the contract, and receive a refund of earnest money paid

Answer 5

7E1