Pennsylvania License Law
What is Pennsylvania's 'Seller Property Disclosure Statement' requirement under the Real Estate Seller Disclosure Law?
ASellers must disclose only major structural defects, not cosmetic issues
BSellers of residential real property must complete a written disclosure statement revealing known material defects before the buyer enters into an agreement of sale✓ Correct
CThe disclosure statement is optional for as-is sales
DPennsylvania requires disclosure only for properties built before 1978
Explanation
Pennsylvania's Real Estate Seller Disclosure Law (68 Pa. C.S. §7301 et seq.) requires sellers of residential real property to provide a written Seller Property Disclosure Statement to prospective buyers before they sign an Agreement of Sale. The disclosure must reveal all known material defects and conditions affecting the property. Sellers who fail to disclose known material defects may be liable for damages. PREC has adopted a standard disclosure form.
Related Pennsylvania Pennsylvania License Law Questions
- A Pennsylvania real estate salesperson's license must be held by:
- In Pennsylvania, within how many days must a broker deposit earnest money into their escrow account?
- Under Pennsylvania's Real Estate Seller Disclosure Law, what properties are exempt from the mandatory disclosure requirement?
- Under RELRA, what is the penalty for practicing real estate without a license in Pennsylvania as a first offense?
- Which statement about Pennsylvania real estate license renewal is CORRECT?
- A Pennsylvania real estate license that is not renewed by the expiration date automatically becomes:
- Under RELRA, how many hours of continuing education must a Pennsylvania real estate salesperson complete each license renewal period?
- Under RELRA (63 P.S. §455), which of the following actions requires a Pennsylvania real estate license?
Practice More Pennsylvania Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Pennsylvania Quiz →