A buyer in Pennsylvania makes an offer on a property that is part of a planned community governed by a homeowners' association (HOA). Under the PA Planned Communities Act, what right does the buyer have after receiving the HOA documents?
Correct Answer
B) The buyer has 5 calendar days to review the documents and cancel without penalty
Under the Pennsylvania Uniform Planned Community Act (68 Pa.C.S. §5407), a buyer has 5 calendar days after receiving the resale certificate or public offering statement from the HOA to cancel the agreement without penalty.
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Under the PAR Agreement of Sale, all of the following are obligations of the buyer under the mortgage contingency EXCEPT:
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- → A buyer in Montgomery County defaults on a PA Agreement of Sale. The seller wants to pursue both liquidated damages (retaining the hand money) AND actual damages through a lawsuit. Under PA law, can the seller do both?
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- → In Pennsylvania, the Statute of Frauds requires that real estate contracts be in writing. Which of the following contracts is subject to this requirement?
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- → A buyer in Lancaster County signs a PA Agreement of Sale. The agreement includes a provision allowing the buyer to assign the contract to another party. Under Pennsylvania law, which statement about contract assignment is correct?
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In a Pennsylvania real estate transaction, the buyer requests that the seller pay for a home warranty as part of the Agreement of Sale. Under PA law, which statement is correct?
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At settlement in Pennsylvania, the buyer discovers a municipal lien for unpaid water and sewer charges on the property. Under the PA Agreement of Sale, who is typically responsible for clearing this lien?