The New Hampshire residential real estate purchase agreement (“residential purchase and sale agreement”) is a binding contract between a seller and buyer for the transfer of real property. The agreement outlines the terms and contingencies leading up to the closing date.
Required Seller Disclosures in New Hampshire
Residential real estate purchase agreements typically contain promises and provisions guaranteeing a property’s condition, safety, and/or value. In most states, sellers are required to provide a purchase agreement along with documentation that guarantees the property’s condition. However, in New Hampshire, a disclosure statement is not required by law (477:4-d). This is known as a buyer beware or caveat emptor state. Any defects that are discovered after the property has transferred ownership (from the seller to buyer) are the buyer’s responsibility.
Prior to or during the preparation of an offer for the purchase and sale of any real property the seller shall disclose, in writing, the following information to the buyer:
Insulation. Information that is relative to the insulation, including type and location.
Sewage. Information that is relative to the private sewage disposal system including its location, malfunctions, the date it was most recently serviced, and the name of the contractor who services the system.
Water Supply. Information that is relative to the type of private water supply system, its location, malfunctions, date of installation, date of most recent water test, and whether or not the seller has experienced a problem such as an unsatisfactory water test or a water test with notations.