The Connecticut residential real estate purchase agreement (“residential sale agreement”) outlines the terms of a potential buyer’s offer to purchase residential property. In the agreement, the buyer will provide the monetary amount they are offering, how they plan on paying if the offer is accepted, and the offer’s expiration date.
Do Sellers in Connecticut Have to Disclose Property Defects?
Connecticut does require real estate sellers to disclose any material defects. Certain states do not require the seller to disclose all defects (caveat emptor), meaning the buyer assumes the responsibility to conduct a real property inspection to seek out any potential defects with the property. In those states, if a buyer fails to conduct a proper examination, they may not have a legal alternative to reverse the real estate transaction.
Required Seller Disclosures in Connecticut
Along with any material defects with the property, sellers in Connecticut will also need to provide the following:
- Residential Property Disclosure Statement. In Connecticut, sellers of a residential property are urged to complete this disclosure form and present it to any potential buyer.
- Lead-Based Paint Disclosure. Any home that was constructed earlier than 1978 must come with a disclosure upon the transfer of the property that includes any data concerning the presence of lead on the premises as well as educational materials that communicate the risks involved with coming into contact with the harmful substance.