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An Explanation of the Pennsylvania Agreement of Sale Part 7
PA Agreement of Sale Part 7
Paragraph 18 handles Notices, Assessments & Certificates of Occupancy. Sub-paragraph A deals with the seller representing that no public improvements or assessments by condominium and home owner associations have been made that remain unpaid and that no notice relating to zoning violations or other ordinances remain uncorrected unless specified in the space provided. For example if there is a fire wall assessment that is split into several equal installments that is being paid off, this is where the remaining payments would be identified. Paragraph B is a catch all space allowing any other notices or assessments the seller is aware of to be entered. Paragraph c handles any notices that are received after the agreement of sale is ratified and before settlement. Seller is expected to provide a copy of any notices and or assessments to the buyer and will notify buyer in writing of receipt of these within 5 days if the seller is going to 1) fully comply at sellers expense before settlement; in which case the buyer accepts the property and agrees to the release in paragraph 27. 2) Seller will not ... more
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