Pennsylvania Real Estate Purchase Agreement

Last Updated: September 20, 2024 by Roberto Valenzuela

A Pennsylvania 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 Pennsylvania Have To Disclose Property Defects?

Pennsylvania does require real estate sellers to disclose any material defects with a property. In most cases, this is through a standardized disclosure form with requirements provided by statute, but any disclosure which provides the required information is valid.

The seller always has a duty to disclose all material defects covered by the statutory requirement, even when the buyer agrees to take the property “as-is.”

Pennsylvania exempts the following common transfers, among others, from the standard disclosure form requirement:

  • Court-ordered sales and transfers
  • Sales by foreclosure or other debt default
  • Transfer as part of the execution of a will or estate
  • Transfer to a spouse, parent, or child
  • Transfers of unimproved real property
  • Transfers of property that is to be demolished, or converted to non-residential use

Required Seller Disclosures in Pennsylvania

Pennsylvania sellers of residential real estate must make the following disclosures, as appropriate, in order for a real estate purchase agreement to be considered legally binding:

  • Seller’s Property Disclosure Statement: Discloses material defects with a property that are known to the seller at the time of sale, and details any potential issues and conditions that may affect the value of the property.
  • 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.

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