A PA Agreement of Sale includes the statement: 'This property is being sold AS-IS.' The buyer later discovers a hidden defect that the seller knew about but did not disclose on the Seller's Property Disclosure. Can the buyer still pursue a claim?
Correct Answer
B) Yes, an AS-IS clause does not protect the seller from liability for known defects that were intentionally concealed
Under Pennsylvania law and the Seller's Property Disclosure Law (68 Pa.C.S. §7301-7314), an AS-IS clause does not protect a seller who intentionally conceals known defects. Fraudulent concealment overrides an AS-IS provision, and the buyer may pursue remedies.
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Amy is a licensed salesperson in Pennsylvania preparing an Agreement of Sale. Under PA law, which party typically selects the settlement agent in a residential transaction?
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Under the PAR Agreement of Sale, the buyer agrees to deliver hand money to the broker within a specified number of days after the fully executed agreement. If the agreement does not specify a timeframe, when is the hand money typically due?