Sellers are rarely required to actively look for defects, but they must publicize the issues they are aware of. However, disclosure laws are incredibly strict in some states, with sellers being required to specifically look for specific defects. Laws relating to the registration of real estate transactions in India. To complete the transaction, Larry drafts a purchase agreement defining the transaction, including the purchase price. He keeps the article on the property while Derrick makes monthly payments. Once Derrick has paid the amount stated in the agreement, Larry will transfer the item home to Derrick. The purchase contract may or may not lead to an actual sale of the property in question. .
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