One of the important documents when Buying a Lehigh Valley Home is the Pennsylvania Property Disclosure.
There are different versions of the PA Property Disclosure floating around but typically this is a 10 page document filled out by the Lehigh Valley Home Seller. It is intended to disclose information about the home that the seller is aware of.
Some common questions asked on the disclosure:
How old is the roof?
Has it ever leaked?
Did pets ever live at the property?
Are there any easements?
The Property Disclosure is a legal document and can be used in a court of law to sue for "Failure to Disclose". The home seller was aware of a problem and did not disclose it.
For example, the property disclosure states the basement never had water and the first week the buyers live in the home they get water in the basement. Did the seller know about this problem and not disclose it?
Some of the questions on the property disclosure may affect what a buyer is willing to pay for the property. No one wants to admit a negative problem but a full disclosure is always in everyone's best interest.
Having said that, there are occurrences when there is no Property Disclosure (foreclosure/bank owned, estate properties...etc).
If a Lehigh Valley Home Buyer is interested in a home they should ask the agent if a copy of the PA Property Disclosure is Available.
More Information about Lehigh Valley Real Estate is available at www.lehighvalleyhomesonline.com