Robert is buying a single-family home in Derry, NH. The seller's agent presents Robert with the Residential Property Disclosure Form at the first showing of the property. Robert reviews it but does not sign the acknowledgment until three days later, just before signing the purchase agreement. Under RSA 477:4-d, which statement correctly describes whether the disclosure was handled properly?
Correct Answer
B) The disclosure was proper because the buyer acknowledged receipt of the form before signing the purchase agreement
Under RSA 477:4-d, the key requirement is that the buyer must acknowledge receipt of the Residential Property Disclosure Form before signing the purchase agreement. Robert received the form at the first showing and acknowledged it before signing the purchase agreement, which satisfies the statutory requirement. There is no mandate that acknowledgment occur a specific number of days in advance, only that it precede the buyer's signature on the purchase agreement.
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Related Topics & Key Terms
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Related Concepts
Environmental hazards disclosure involves informing buyers about environmental contamination or hazards affecting or potentially affecting a property, including underground storage tanks, contaminated soil, hazardous waste, and proximity to Superfund sites.
Flood zone disclosure requires informing buyers whether a property is located in a designated flood zone as mapped by FEMA. Properties in high-risk flood zones may require mandatory flood insurance.
HOA disclosure requires informing buyers about the existence, rules, fees, financial health, and restrictions of a homeowners association governing the property. This information helps buyers understand their obligations before purchase.
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