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Connecticut 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:
Connecticut
Control #:
CT-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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How to fill out Connecticut 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

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.

One question all sellers are required by law to answer on the Real Estate Transfer Disclosure Statement is whether there are any neighborhood noise problems or other nuisances. If the answer is yes, the seller must explain that answer in detail.

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.

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.

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

If a seller fails to disclose, or actively conceals, problems that affect the value of the property; they are violating the law, and may be subject to a lawsuit for recovery of damages based on claims of fraud and deceit, misrepresentation and/or breach of contract.

In general, as long as any dispute does not affect anything material about the house or property on which it stands, and you're not being asked to disclose information in writing, you shouldn't feel obliged to give a 'warts and all' account of all the problems you've had with a neighbour.

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.

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.

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Connecticut 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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