What documents should I review before buying a home?

When buying a home in the District of Columbia, it is important to review certain documents before the purchase. A seller is required by law to provide a Property Condition Disclosure Statement (PCDS). This document provides information about the condition of the property and any known defects or problems. Additionally, the seller must provide the buyer with a Lead-Based Paint Disclosure Form. This form is necessary if the home was built before 1978, as it identifies any potential lead-based paint hazards. The District also requires that a copy of the deed or title insurance policy be provided to the buyer. The deed states who owns the home and what rights the seller and buyer have to the property. Title insurance is a policy that protects the buyer in the event that someone else has a legal claim to the home. Finally, it is important to review any agreements between the buyer and seller in the form of contracts, such as sales contracts, lease-purchase contracts, and earnest money contracts. These documents will provide information about the terms of the sale, any deposits made, and a timeline for closing. It is essential to review these documents before entering into a contract to buy a home in the District of Columbia. By doing so, you can ensure that your rights as a buyer are protected and any potential problems are addressed.

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What documents should I review before buying a home?

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