A Washington, DC residential purchase agreement facilitates the transfer of real estate ownership between a buyer and seller. This legally binding contract outlines essential terms such as the purchase price, contingencies, and the closing timeline, typically within 90 to 120 days.
The document serves to protect both parties’ interests and ensures that all aspects of the property sale are clearly defined and agreed upon before the transaction is finalized.
State Laws
- Pests: Sellers must disclose any signs of infestation such as termites, carpenter ants, or other wood-destroying organisms and include details on related treatments.
- Structural Issues: Sellers must report any known defects to the home’s roof, walls, floors, foundation, basement, or related areas, which may include leaks, flooding, cracks, or damage from past fires.
Required Seller Disclosures
Lead-Based Paint Disclosure
For homes built before January 1, 1978, sellers must include a lead disclosure and educational materials detailing the presence and risks of lead exposure (42 U.S. Code § 4852d).
Property Disclosure Statement
Sellers must complete and provide this document to inform buyers of important property details (§ 42–1305 and § 42-1302).
Do Sellers in Washington, DC Have to Disclose Property Defects?
Yes, sellers in Washington, DC are required to disclose material defects in real estate transactions. In contrast, in “caveat emptor” states, buyers are responsible for thorough property inspections and may lack legal recourse if they fail to conduct them properly.
