The Connecticut residential real estate purchase agreement (“Contract for Sale and Purchase of Real Estate”) is a contract which commits a buyer to an offer to purchase real estate, according to specific terms agreed by the buyer and seller. Negotiated specifics include the purchase price, financing method, closing date, and more.
Do Sellers in Connecticut Have To Disclose Property Defects?
Connecticut does require real estate sellers to disclose any material defects. In most cases, this is done with a standardized property disclosure form provided by the state.
By mutual agreement, it is possible to waive the use of the standard form and handle required disclosures another way. However, the seller always has a duty to disclose all material defects that are not obvious on a casual inspection of the property even if the buyer agrees to take the property “as-is.” The basic duty to disclose cannot be waived under any circumstances.
Required Seller Disclosures in Connecticut
Connecticut sellers of real estate must complete the following disclosures, as appropriate, in order for a real estate purchase agreement to be considered legally binding:
- Residential Property Disclosure Statement: Sellers in Connecticut must disclose any known issues that could negatively impact a home’s value or pose an unreasonable risk to the buyer’s safety or health.
- Lead-Based Paint Disclosure: Any home constructed earlier than 1978 must come with a disclosure upon the transfer of the property which includes any information about the presence of lead on the premises, as well as educational materials that communicate the health risks associated with lead exposure.
