A Pennsylvania seller is selling their primary residence in a standard transaction. The seller tells the listing agent that they heard from a neighbor that the property might be in a flood zone, but the seller has never experienced flooding and has no documentation. Under 68 Pa.C.S. §7303, how should the seller complete the flood-related question on the disclosure?
Correct Answer
D) Mark 'unknown' and note the information received from the neighbor about possible flood zone status
Under 68 Pa.C.S. §7303, the seller should honestly report their knowledge. The seller has not experienced flooding but has received information suggesting possible flood zone status. Marking 'unknown' and noting the neighbor's information is the most honest and accurate response.
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Related Topics & Key Terms
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Related Concepts
A stigmatized property is one that has an undesirable reputation due to events that occurred on the property or nearby, such as a murder, suicide, alleged haunting, or proximity to a registered sex offender. The stigma is psychological, not physical.
An as-is clause in a real estate contract states that the buyer accepts the property in its current condition without requiring the seller to make any repairs. However, an as-is sale does NOT eliminate the seller's obligation to disclose known defects.
Asbestos disclosure involves informing buyers about the presence of asbestos-containing materials (ACMs) in a property. Asbestos was commonly used in construction materials before 1980 and poses health risks when fibers become airborne.
More Pa Seller Disclosure Questions
A Pennsylvania homeowner transfers his property to his ex-wife as part of a court-approved property settlement two years after their divorce was finalized. Under 68 Pa.C.S. §7304, is this transfer exempt from the disclosure requirement?
Under 68 Pa.C.S. §7304, which of the following transfers is exempt from Pennsylvania's seller disclosure requirement?
A Pennsylvania seller sells a mixed-use property that has a ground-floor commercial space and a second-floor residential apartment. The buyer intends to use both portions. Under the PA Seller Disclosure Law, what is the seller's disclosure obligation?
A Pennsylvania seller's property was previously used for dry cleaning operations before being converted to residential use. The seller is aware that perchloroethylene (PERC), a common dry cleaning solvent, was used on site. The PA DEP classified the site as a brownfield but issued a final cleanup letter under Act 2 (Land Recycling Program). Must the seller disclose this history?
A Pennsylvania seller knows that an underground storage tank (UST) was removed from the property five years ago, and the PA DEP issued a closure letter confirming no contamination. Must the seller disclose the UST history on the Property Disclosure Statement?
- → A buyer in Pennsylvania is purchasing a home built in 1975 that has vermiculite insulation in the attic. The seller knows about the vermiculite but has never had it tested for asbestos. What should the seller disclose?
- → A seller in Pennsylvania has a property where an underground heating oil tank was decommissioned in place (filled with sand or foam) rather than physically removed. The seller has documentation from the company that performed the decommissioning. What should the seller disclose?
- → A seller in Pennsylvania provides the lead paint disclosure form but forgets to include the EPA pamphlet when selling their 1970 home. Has the seller satisfied the federal lead paint disclosure requirements?
- → In Pennsylvania, what is the primary health concern associated with lead-based paint in residential properties?
- → Under federal law, what pamphlet must be provided to buyers of pre-1978 homes in Pennsylvania?
- → In Pennsylvania, the lead paint disclosure form for a pre-1978 home sale must be signed by which parties?
- → Why was 1978 chosen as the cutoff year for lead-based paint disclosure requirements in residential real estate transactions?
- → Under Pennsylvania law, a child under age 6 is found to have an elevated blood lead level. Under PA's Lead Poisoning Prevention Act, the local health authority can order an inspection of the child's residence. If the inspection identifies lead hazards, what is the property owner's obligation?
- → A Pennsylvania seller of a pre-1978 home tells their listing agent that they recently had the interior repainted and no longer think lead paint is an issue. The agent knows the home was built in 1955. How should the agent respond?
- → A seller in Pennsylvania is selling a pre-1978 home at a foreclosure auction. Under federal lead paint disclosure law, must the foreclosing lender provide lead paint disclosures to the winning bidder?
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A Pennsylvania real estate agent lists a property being sold by a corporate relocation company. The company purchased the home from a transferred employee and is now reselling it. The agent wonders if the disclosure is required. What is the correct assessment?
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A Pennsylvania husband transfers his ownership interest in the marital home to his wife as part of their ongoing marriage, not a divorce. Under 68 Pa.C.S. §7304, is the Seller's Property Disclosure Statement required?