The contract to purchase and sell residential real estate in Pennsylvania allows a potential owner to enter into a legal agreement with a seller for the acquisition of real estate. The agreement covers a wide range of conditions, including the agreed purchase price, personal property that must remain on the ground, closing conditions, serious money and other financial contingencies. Ownership of the property can only be legally transferred if the buyer and seller accept the terms of the contract and enter their signature into the contract. Before the contract is signed, the seller must submit to the buyer a disclosure statement mentioning known material defects that could affect the buyer`s purchase decision. Seller`s Disclosure Statement (No. 7304) – Sellers are required to enter into this disclosure and make it available to buyers before signing a purchase and sale agreement. This revelation describes the seller`s knowledge of the material defects of his property. The second amendment relates to the paragraph of the mediation agreement. Mediation is the preferred method of resolving disputes between buyers and sellers, but while the parties wait for the process to proceed, the aggrieved party may lack valuable time to preserve their contractual rights. The new language gives both parties permission to bring all claims that may be required during mediation to an appropriate court. 35 years ago, we had a unilateral AOS. Yes, we needed changes, and they worked better for everyone. But we have to get this over with.

But guess what…. the biggest problem is coming very soon. Amazon, Zillow, Trulia, etc. are the huge factor that no one wants to meet. Our industry will soon be swallowed up by these buzzing companies. Wake people up, brokers will soon be a lost job when these giants take over. Our leaders are fully aware of this problem; But they don`t know how to stop it. You should know that it will be soon.

This is not a joke. I would agree with the unilateral spd for discounts if there were keywords attesting that they have no knowledge of defects. I find far too many agents who say, „You don`t have to fill this out, sign here.“ The problem is that they always have an obligation to reveal defects of known materials. A property that is an estate is not allowed to hide defects. In addition, the seller should have received a copy of an audit report if the buyer resigns. The termination involves a problem that the seller should know to reveal. If the desire not to receive the report is to avoid disclosure, it seems a little unethical. On the other hand, I would absolutely take the right to refuse some inspectors for the weight that their opinion has on a house.

But as agents, we have to accept that part of the trial and not put all the inspectors off the clock. Yes, there will be problems with every house. That`s why we need to know the houses ourselves…. We need to know what we`re selling. There will always be the casual buyer who tries to sketch and nickel the seller or buyer who resigns for no good reason.