Environmental
A NH property has an active septic system. Under NH DES rules, the seller is typically required to:
AReplace the septic system before selling
BDisclose the system's location and provide any available inspection reports✓ Correct
CConnect to municipal sewer if available within 200 feet
DHave the system inspected and certified by a licensed engineer at the buyer's expense
Explanation
In NH, sellers with private septic systems must disclose the system's location and provide any available inspection reports. While NH does not universally require pre-sale septic inspections, many buyers request them as a condition of purchase, and disclosure is required under the NH Seller's Disclosure form.
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Key Terms to Know
Contingency
A condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
State-Specific Concepts
Disclosure Requirements
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