A New Hampshire Property Disclosure Statement is prepared by the seller of residential property to disclose its condition and assist prospective buyers in evaluating its value. The completed document is a comprehensive assessment of the property’s current state, but should not be considered as a warranty or a replacement for the buyer’s inspection.
Although New Hampshire is a “buyer beware” state, and the buyer is expected to do their due diligence on the property prior to purchase, sellers and their agent(s) do have some disclosure requirements. For instance, potential buyers must be informed of the status of the property’s private water supply, sewage system, and insulation. Also, the presence of radon gas, arsenic, and lead on the premises must be relayed prior to entering into a purchase agreement.
Purchase Agreement – This document facilitates a change of ownership of a residential property between a prospective buyer and a seller.