The Connecticut Sales Contract describes the completion of a residential real estate transaction. Both parties, the buyer and the seller, must go to the conditions of sale and then transcribe the data inside the form in order to guarantee 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 obliged to provide all information imposed by the State in order to obtain an effective contract. (The Connecticut Realtor`s Association offers a guide for property owners who sell their homes, which contains valuable information for those interested.) A contract for the purchase and sale of residential properties in Connecticut is a written contract between a person who sells real estate (seller) and the person who wishes to purchase that property (buyer). The price of the property is negotiated by both parties, as well as certain conditions of their agreement and the potential transaction. Once both parties have signed the document, the contract becomes legally binding and cannot be terminated unless both parties agree. While it is in the best interest of the buyer to inspect the property and ensure that it is in good condition, the seller must legally disclose the current condition of the property, including any known deficiencies. The seller is not required to carry out further inspections to detect problems of which he had no prior knowledge, he only has to reveal problems of which he is currently aware. Real estate purchase contracts usually include promises and provisions guaranteeing the condition of a property. In some states, sellers must provide additional documents that guarantee the condition of the property.
While other states require the seller to reveal a certain type of problem on the ground – for example. B a clerical error. In Connecticut, in addition to the sales contract, you must complete the following documents: The Connecticut Residential Real Estate Purchase Agreement (Residential Sale Agreement) describes the terms of a potential buyer`s offer to purchase. In the agreement, the buyer indicates the amount of money he offers, as he plans to pay if the offer is accepted, and the expiration date of the offer. Report on the Disclosure of the Condition of Residential Property (§ 20-327b) – This state form, which simply records specific information about the property for sale, must be completed and delivered to the person interested in purchasing the property. Lead-based color disclosure – homes built before 1978 may contain lead-based paint, so it is mandatory for sellers to make this disclosure form available to a potential buyer of real estate built before that year. . Lead-based color opening (42 U.S.
Code § 4852d) – This disclosure imposed by the Confederacy is required in all states of the United States and stipulates that the seller of a residential property produced before 1978 must provide the buyer with all information about lead color hazards found on the site, and an information brochure approved by the EPO. Eastern Connecticut Association of Realtors – Adobe PDF Residential Properial Property Disclosure Disclosure Statement. . . .