This is key to remember, especially if you are using a non-PAR agreement, such as representation a relo buyer when the relo company requires their own contract, or in new construction.
Section 608.2. Mandatory provisions of sales contract.
In a sales agreement or sales contract, a broker shall disclose the following information which shall be disclosed in the manner and method the commission shall establish by regulation:
(1) A statement identifying the capacity in which the broker is engaged in the transaction and whether the broker or any licensee affiliated with the broker has provided services relating to the subject transaction to any other party to the transaction.
(2) A statement describing the purpose of the Real Estate Recovery Fund established under section 801 and the telephone number of the commission at which the parties to the transaction can receive further information about the fund.
(3) A statement of the zoning classification of the property, except in cases where the property or each parcel of the property, if subdividable, is zoned solely or primarily to permit single-family dwellings. Failure to comply with this requirement shall render the sales agreement or sales contract voidable at the option of the buyer, and, if voided, any deposits tendered by the buyer shall be returned to the buyer without a requirement for court action.
(4) A statement that access to a public road may require issuance of a highway occupancy permit from the Department of Transportation.
(608.2 added Nov. 25, 1998, P.L.908, No.112) jroosevelt@kw.com
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