The Vermont property disclosure statement informs buyers about the condition of a residential property that is for sale and other information that may influence their purchase. The information provided may include descriptions of the property’s electrical, water, and sewage systems, appliances, telephone, internet, and television connections, and the structural materials and condition of the residence. Vermont is a “buyer beware” state, which means that sellers aren’t legally required to provide buyers with a property disclosure. However, real estate brokers are required to disclose all known material facts regarding a property being sold under their representation.
Laws – § 2296(4)
Purchase Agreement – Used by a property buyer to relay the terms of their offer to purchase residential property from its owner and is executed by both parties to make a binding agreement.