Upload Data To Legal Pennsylvania Real Estate Closings Forms For Free

The Real Estate Seller Disclosure Law (68 P.S. §7301, et seq.) requires that before an agreement of sale is signed, the seller in a residential real estate transfer must disclose all known material defects about the property being sold that are not readily observable.

Any seller who intends to transfer any interest in real property shall disclose to the buyer any material defects with the property known to the seller by completing all applicable items in a property disclosure statement which satisfies the requirements of section 7304 (relating to disclosure form).

Pennsylvania courts have routinely held that sellers must disclose known material defects to avoid deceit, fraud or misrepresentation, even when the seller disclosure law provides an exception. For example, let's say that the executor of an estate is aware that the home regularly gets water in the basement.

What Happens if a Seller Lies on a Property Disclosure Statement in Pennsylvania? If you knowingly submit false information about the property or fail to disclose pertinent information, you can be liable for lawsuit from the buyers.

Pennsylvania sellers of homes and individual condominium units must, by law, advise potential buyers of the property about "known material defects" that are not readily observable, including structural problems, hazardous substances, and more, before the sale is completed.

Do you have to report a death in your home while selling real estate in Pennsylvania? Pennsylvania supreme court ruled in Milliken v Jacano that psychological stigma is not considered a material defect. Since this ruling, agents and sellers are not required to disclose death on property.