The Hawaii residential real estate purchase agreement (“real estate purchase contract”) is a contract that outlines the terms of a residential property deal between a buyer and a seller. It may only be used for residential properties where construction has been completed.
Required Seller Disclosures in Hawaii
Residential real estate purchase agreements normally contain promises and provisions guaranteeing a property’s condition. In some states, sellers are required to provide additional documentation guaranteeing the property’s condition. While other states require the seller to disclose a specific type of issue on the property—such as a material defect. In Hawaii, you will also need to complete the following paperwork in addition to the purchase agreement:
Hawaii Seller’s Disclosure Statement. In Hawaii, sellers are required to provide the seller’s disclosure statement no later than ten calendar days after the acceptance of a residential purchase and sale agreement. (§ 508D-5)