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Sellers are required to complete the PIQ and to be "truthful and accurate". A PIQ is typically about eight pages long, unless the home being sold is a leasehold property, in which case there are further questions to be completed. There are two types of questionnaire: one for newly built properties and another for other types of property.
In the United States, a seller disclosure statement is a form disclosing the seller's knowledge of the condition of the property. The seller disclosure notice or statement is anecdotal and does not serve as a substitute for any inspections or warranties the purchaser may wish to obtain. It also does not serve as a warranty of any kind. [1]
There is separate legislation for Scotland that requires anyone selling a property to provide a Home Report. [1] The pack was a set of documents about the property: an Energy Performance Certificate , local authority searches, title documents, guarantees, etc.
The biggest expense involved in selling a home is often the commission owed to your real estate agent. This cost typically runs between 2.5 and 3 percent of the home’s sale: On a $400,000 home ...
Since the agent is representing the buyer, not the seller, the seller may hire an attorney to review the transaction and ensure all required disclosures are made. Flat-fee and hourly home selling. Alternatively, a home seller can either pay a flat-fee or hourly fee to a real estate agent. This can be a one time payment, or an ongoing hourly ...
It also means sellers will no longer be on the hook to fund commissions for all realtors involved in the transaction — a fee that usually amounts to 5% to 6% of the home’s sales price. The ...