Vermont Purchase And Sale Agreement Form

Vermont`s contract of sale represents the terms of sale that include the transfer of real estate for a predetermined counter value. Most of the time, the purchase of residential real estate is ensured by a loan from a financial institution; For this reason, the contract should normally only be presented when the buyer has fulfilled the pre-qualification requirements. All parties should thoroughly review each of the provisions before the document is adopted and approved. Disclosure of Seller`s Property [ยง 2296(4)) – Where a seller sells his home with the services of a licensed agent, the agent must provide the buyer with a declaration of disclosure of ownership informing the buyer of defects and other details regarding the condition of the property. Vermont is a “careful buyer” state, which means owners are not legally required to transfer defects in material to potential buyers. Due to this lack of legislation, all buyers should make it their job to review the condition of a property before signing a sales contract. Other rules apply when a licensed agent sells the house. In these cases, the broker must provide the buyer with a deferral of property discs. (Article 2296(4)) Depending on the nature of the property, additional information on guides and training materials may also be required….