Under New Hampshire law, which document must a buyer acknowledge receiving before signing a purchase and sales agreement for residential property?
Correct Answer
B) The Residential Property Disclosure Form required by RSA 477:4-d
RSA 477:4-d through 477:4-f (the NH Residential Property Disclosure Act) requires sellers of residential property to complete a Residential Property Disclosure Form covering known material defects, water supply, sewage disposal, hazardous materials, and other conditions. Buyers must acknowledge receipt of this form before signing a purchase agreement.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Contract termination occurs when a contract is ended or discharged, releasing both parties from their obligations. A contract can be terminated through performance, mutual agreement, operation of law, or breach.
A counteroffer is a response to an original offer that changes one or more terms of the offer, effectively rejecting the original offer and creating a new offer. The party who makes the counteroffer becomes the new offeror.
Earnest money is a deposit made by the buyer at the time of the offer or shortly after to demonstrate good faith and serious intent to purchase the property. It is also called a good faith deposit.
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- → A Rhode Island licensee encounters a listing contract is drafted. What should the licensee remember?
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- → A Hawaii licensee is reviewing the commission asks to inspect escrow and trust records. What is the best answer?
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