The Connecticut purchase agreement describes the execution of a residential real estate transaction. Both parties, the buyer and the seller, must agree on the terms of the sale and then transcribe the data into the form to ensure a valid record of the exchange. This data includes the description of the property, the purchase price, the method of financing and other critical aspects of the sale. The seller is required to provide all necessary disclosures imposed by the state in order to obtain an effective contract. (The Connecticut Realtor`s Association offers a guide for homeowners who sell their homes that includes valuable information for those who are interested.) Declaration of Disclosure of Ownership (§ 20-327b) – Sellers of residential properties are required to complete a condition report and give it to the potential buyer before an agreement is reached between the parties. The Connecticut Residential Real Estate Purchase Agreement (“Residential Sale Agreement”) describes the terms of an offer to purchase a residential property from a potential buyer. In the contract, the buyer specifies the amount of money he offers, how he intends to pay if the offer is accepted and the expiration date of the offer. The Connecticut Residential Real Estate Purchase and Sale Agreement is a contract used by a potential owner (the buyer) to make an offer to purchase residential real estate from an owner (the seller). In addition to the purchase price proposal, the contract lists the buyer`s terms that the seller must approve in order for the transaction to be concluded. A contract to buy and sell for residential real estate in Connecticut is a written contract between a person who sells a property (seller) and the person who wants to buy that property (buyer). The price of the property is negotiated by both parties, as well as certain conditions of their agreement and potential transaction.

Once both parties have signed the document, the contract becomes legally binding and can only be terminated if both parties agree. While it is in the buyer`s best interest to inspect the property and ensure that it is in good condition, under the law, the seller must disclose the current condition of the property, including any known defects. The seller is not obliged to carry out further inspections to discover problems of which he had no prior knowledge, he only has to disclose the problems of which he is currently aware. The agreement sets out the closing date, mortgage approval deadlines and down payments, whether personal property will be included in the sale and property inspection rules. The offer is made to the seller, after which he can decide to accept the offer in its current form, renegotiate the conditions or reject the proposal altogether. Fair Housing Notice (§ 20-327h) – Potential buyers must receive a Notice of Housing Discrimination and Fair Housing Legislation when purchasing a residential property of two (2) units or more. The notice must be signed by the potential buyer and attached to each purchase agreement. Purchase and Sale Agreement – An official document provided by the Eastern Connecticut Association of REALTORS® for the purchase and sale of residential properties. Residential real estate purchase agreements usually contain promises and provisions that guarantee the condition of a property. In some states, sellers are required to provide additional documents that guarantee the condition of the property. While other states require the seller to disclose some type of problem on the property – such as.

B a defect in materials. In Connecticut, in addition to the purchase agreement, you must also complete the following documents: Declaration of Disclosure of Residential Property. In Connecticut, sellers of a residential property are encouraged to complete this disclosure form and present it to any potential buyer. (§ 20-327b) Residential Property Condition Disclosure Report (§ 20-327b) – This government form, which simply records specific information about the property for sale, must be completed and delivered to the person interested in buying the property. Disclosure of Lead Paint (42 U.S. Code § 4852(d) – This federally imposed disclosure, mandatory in all states of the United States, requires the seller of a residential property manufactured before 1978 to provide the buyer with all information about the dangers of lead paint found on the site, as well as an EPA-approved information brochure. Lead-based paint – Buyers of properties built before 1978 are required by law to obtain a lead paint disclosure form and an informative brochure on the dangers of lead paint. Residential Property Condition Disclosure Form (§ 20-327b) – The Connecticut Department of Consumer Protection requires sellers of a residential property to complete this disclosure form and present it to any potential buyer PRIOR to a record or contract. Eastern Connecticut Association of Realtors – Adobe PDF.

Lead Paint Disclosure – Apartments built before 1978 may contain paint containing lead, so it is mandatory for sellers to provide this disclosure form to a potential buyer of a property built before that year. .