Pennsylvania Real Estate Continuing Education Courses - PENNSYLVANIA School License: RU003266
PA 3.0 hours Disclosure Is Not A Secret - Course Syllabus
3.0 Elective Hours
Did you know, as-is language will not protect a seller from tort claims based on non-disclosure of significant latent defects known to the seller? A misconception regarding the effects of an as-is provision in a sales contract is that it completely relieves the seller of its duty to disclose defects in the property to the buyer. Under the laws of most states even with an as-is provision, a seller must nevertheless disclose known facts which materially and adversely affect the value and desirability of the property.
An as-is provision simply means that a buyer is purchasing the property in the physical condition that is visible and observable by that buyer. The seller must still disclose any known defects, as in any other type of sale, but can sell the property in as-is condition and thereby refuse to make any repairs. The buyer has the right to make all inspections, but the seller will not make or pay for any repairs, corrections or replacements.
This course covers the various types of disclosures and clauses that a real estate professional might encounter. This course is a valuable tool for, the real estate licensee. Numerous case studies are presented to aid in understanding.