Contracts
The New Hampshire Property Condition Disclosure statement must be provided to:
AOnly buyers who request it
BBuyers of residential properties prior to entering into a purchase agreement✓ Correct
COnly buyers using a government-backed loan
DBuyers at the closing table before signing the deed
Explanation
New Hampshire law requires sellers of residential property to provide buyers with a Property Condition Disclosure statement before the buyer enters into a purchase and sale agreement.
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Key Terms to Know
Purchase Agreement
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
State-Specific Concepts
Disclosure Requirements
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