pa agreement of sale: An Explanation of Pennsylvania Agreement of Sale Part 9 - The End - 12/11/07 07:33 AM
PA Agreement of Sale Part 9
Part 1
Part 2
Part 3
Part 4
Part 5
Part 6
Part 7
Part 8
The three paragraphs that start this page are all important to understand as they impact the agreement, its breach and any damages the seller can recoup.
Paragraph 28 deals with Representations. How I usually sum sub-paragraph A up is that everything needs to be written down and signed by everyone that they agree with what is written down. Don't accept anyone's word, the seller, the buyer or either of the agents in the transaction, any brochures or promotional material or even advertising. Only what … (0 comments)

pa agreement of sale: An Explanation of Pennsylvania Agreement of Sale Part 8 - 12/09/07 11:03 AM
 PA Agreement of Sale Part 8
Part 1
Part 2
Part 3
Part 4
Part 5
Part 6
Part 7
Part 9
Paragraph 21 deals with Maintenance and Risk of Loss. I have actually blogged on this and a good example of this is Why you need to keep your home insured until settlement. There are three parts to this paragraph.
Sub-paragraph A states that seller will maintain the property, grounds and fixtures specifically listed in this agreement in their present condition excepting normal wear and tear. Sub-paragraph B deals with any system or appliance breaks or fails before settlement. The seller has two basic choices. 1) … (0 comments)

pa agreement of sale: An Explanation of the Pennsylvania Agreement of Sale Part 6 - 11/30/07 07:46 AM
PA Agreement of Sale Part 6
Part 1
Part 2
Part 3
Part 4
Part 5
Part 7
Part 8
Part 9
We are nearing the end, I promise. Sorry this has taken so long to post in its entirety, let me know if this helps. Sometimes trying to explain it is as wordy as what you are trying to explain or worse. There is an official explanation that you can purchase which is available from Pennsylvania Association of Realtors.
Page 6 continues with Paragraph 15 dealing with the Status of Sewer. The type of sewer system is marked in part A. Part B deals with Individual … (0 comments)

pa agreement of sale: An explanation of Pennsylvania Agreement of Sale Part 5 - 11/16/07 09:52 AM
PA Agreement of Sale part 5
Part 1
Part 2
Part 3
Part 4
Part 6
Part 7
Part 8
Part 9
Page 5 of the Agreement of Sale is quite simple. I always find that pages 1 thru 4 take the longest to complete, after that it moves much faster.
Paragraph 12 handles Wood Infestation inspection contingency. Obviously this can be waived or elected. If waived our usual paragraph 27 the Release is agreed upon as well.
If elected the number of days is selected again running from the execution of the contract. Paragraph A says the inspection is at the buyer's expense and will be carried … (0 comments)

pa agreement of sale: An Explanation of Pennsylvania Agreement of Sale Part 4 - 11/08/07 06:11 AM
PA Agreement of Sale Part 4
Part 1
Part 2
Part 3
Part 5
Part 6
Part 7
Part 8
Part 9
Paragraph 10 headed Inspection Contingency Options is the controlling paragraph for the 4 following paragraphs. It describes the 2 options available between the buyer and seller and the possible results under these options.
Option 1 applies within the contingency period as selected and stated in paragraphs 11-15. There are three possible results of the inspections.  1) The buyer can accept the property as it is and release all parties under paragraph 27. 2) If the buyer is not satisfied with the inspections the buyer … (0 comments)

pa agreement of sale: An explanation of Pennsylvania Agreement of Sale Part 3 - 11/01/07 02:14 AM
PA Agreement of Sale Part 3
Part 1
Part 2
Part 4
Part 5
Part 6
Part 7
Part 8
Part 9
A short post today to complete Page 3.
Page continues with Paragraph 7 revised in September 2005 which is a warning about meeting deadlines. If the agreement is contingent upon inspections and/or repairs, insurability, environmental conditions etc, if these are not carried out by the times stated in the agreement it is the same as if the contingency has been waived and the Buyer accepts the property and agrees to the RELEASE stated in Paragraph 27. This is one of the duties of the Buyers agent … (0 comments)

pa agreement of sale: An Explanation of the Pennsylvania Agreement of Sale Part 2 - 10/30/07 10:42 AM
PA Agreement of Sale Part 2
Continuing with our explanation of the PA Agreement of Sale (AOS) we will start at the top of page 2. If you want to read other parts of this explanation
Part 1
Part 3
Part 4
Part 5
Part 6
Part 7
Part 8
Part 9
Paragraph 4 A deals with Fixtures and personal property, this paragraph was revised in September 2005. It deals with items included in the sale of the home. Anything permanently installed which is free of liens, such as plumbing, heating lighting fixtures (including chandeliers and ceiling fans) etc. I will tell prospective sellers if they want to … (0 comments)

pa agreement of sale: An explanation of The PA Agreement of Sale Part 1 - 10/29/07 08:40 AM
The PA Agreement of Sale (AOS) is 10 pages long, 11 if you include the Lead-based paint hazards disclosure and inspection contingency addendum and consists of 34 paragraphs and 622 lines excluding Notices on the back of the pre-printed pages, which can take it to 17 pages.  It is continually being updated due to revisions through use and often law suits which have arisen as a result.  Each paragraph states when it was last updated. This agreement is most commonly used in resales of existing homes. Builders will often have their own contracts. Whether you are a buyer or seller it … (1 comments)

pa agreement of sale: Why you need to keep your insurance coverage in place till settlement! - 06/27/07 07:24 AM
Recently the night before Memorial Day I woke to the sound of an engine groaning up the hill outside my home. Not expecting my garbage to be collected on Memorial Day I had not put it out. The room was fairly light and without looking at my clock I thought they are coming and sprang out of bed to grab the trash and get it to the curb before I missed them. But...I was greeted instead by a fire engine lights flashing coming up the hill outside my home, as i looked along the road I was greeted by this...
                                 
No wonder … (8 comments)

 
Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) Rainmaker large

Nick Vandekar, 610-203-4543

Tredyffrin Easttown Realtor, Philly Main Line

Devon, PA

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Long & Foster Real Estate Inc 610-225-7400

Address: 92 Lancaster Avenue, Devon, PA, 19333

Office: (610) 225-7400

Mobile: (610) 203-4543

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