49 Pa. Code § 35.334

Current through Register Vol. 54, No.43, October 26, 2024

Section 35.334 - Statements of estimated cost and return

(a) Before an agreement of sale is executed, the brokers involved in the transaction shall provide each party with a written estimate of reasonably foreseeable expenses associated with the sale that the party may be expected to pay, including, but not limited to:

(1) The broker's commission.

(2) The mortgage payments and financing costs.

(3) Taxes and assessments.

(4) Settlement expenses.

(b) The estimates of costs required under subsection (a) shall be as accurate as may be reasonably expected of a person having knowledge of, and experience in, real estate sales.

(c) The following statement of estimated costs to the buyer at settlement is exemplary of the requirements of subsection (a):

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(d) The following statement of estimated costs to the seller at settlement is exemplary of the requirements of subsection (a):

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49 Pa. Code § 35.334

The provisions of this §35.334 adopted February 24, 1989, effective 2/25/1989, 19 Pa.B. 781.

The provisions of this §35.334 issued under the Real Estate Licensing and Registration Act (63 P. S. §§ 455.101-455.902).

This section cited in 49 Pa. Code § 43b.8 (relating to schedule of civil penalties-real estate and cemetery brokers, real estate schools).