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Delaware Residential Purchase Agreement

A Delaware residential purchase agreement is a contract outlining the terms and conditions of the sale of a residential property. This may include the purchasing price, financing options, closing details, and the property condition. The seller must complete a state-mandated disclosure form and provide it to the potential buyer.
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Updated July 24, 2024

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Required Disclosures (3)

Lead-Based Paint Disclosure – In accordance with federal law, anyone selling property built prior to 1978 must provide potential buyers with this disclosure form.

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New Construction Property Disclosure Form – This covers all potential issues and conditions that may affect the value of the property. Those selling property that has been recently constructed should use the New Construction version of the disclosure form.

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Standard Property Disclosure Form – The State of Delaware requires all sellers of residential property to disclose material defects of the property that are known to them when the property is put up for sale.[1]

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Sources

  1. § 2577