In the state of Penn. 3 documents are required if it is a lease purchase these documents must be all seperate and they are
1. the lease agrrement as to what the monthly payment will be and what money if any per month will be used towards the down payment . And how long the term should be before having to obtain the mortgage .
2. A disclosure statement of all Mechanical problems such as electric, plumbing , water heater , the heating system and and structure problems, or water problems . If it is unknown then you MUST state that , but if you lie on the statement to make the sale or to get potential buyers you will be held liable and if you have a lawyer or real estate agent representing you they are liable for this as well . ALSO this is where you state in the disclosure that knowing that these problems are visable or known and the lease purchaser agrees to still go through with contract then it has to be stated who will be resonsible for these repairs . You can agree to a 50/50 resonsibilty or take no resonsibilty at all , cause you are telling them from the get go . ALSO if you state that home is " AS IS " you must STILL include a disclosure statement with all known problems
3. Agreement of sale , this is where you state the asking price of home , and approximatley the day the property will go to settlement . In a case where the "buyer" can not get a mortage all monies are forfeited and this must be stated before ALL contracts are signed . You can not do all 3 of these in 1 contract .
When Selling Your Home, Disclose All
If you're putting your home on the market, better be sure you're ready to tell all - good and bad.

"The majority of lawsuits or claims that occur are as a result of buyers finding out about something that is wrong with their property after the close of escrow and coming to the belief that the seller knew but didn't tell them," says real estate attorney Peter Solecki of Winton & Larson, LLP.

Disclosure is vital. In one extreme case, it may have spared a seller from going to jail and even saved lives. The New York Times reported on a trial in the late eighties that found the seller of a home guilty for not disclosing to the buyers that the home's heater had malfunctioned. The buyers and one of their children were asphyxiated by fumes from a gas-fired heater used to de-ice the driveway of their home. Only their 4-year-old child survived. The seller was convicted of involuntary manslaughter.

This case is believed to be the first of its kind where a home-seller was held criminally liable for the sale of a home that had a fatal defect.

While certainly this isn't a typical scenario, it gives good reason to pay attention to the details that you're disclosing when selling your home. It's not worth it to leave off some important details just because you think the home won't sell or will sell for less money if you disclose any problems.

Reporting problems about your property prior to the sale of it can be done through various reporting mechanisms such as the Transfer Disclosure Statement (TDS). But Solecki says some disclosure reporting statements are written in the present tense, which creates a reporting dilemma for some sellers.

Buyer Can Decide
"The seller will look at the Transfer Disclosure Statement and say, 'Well, there was something wrong but it's not any more; therefore, I don't have to disclose it," Solecki says. He adds, "If [sellers] haven't disclosed it and it turns out to be a problem, then you have a potential significant issue, whereas if it's been disclosed, then the buyer can elect what to do with it."

A RE/MAX agent can help you with disclosure forms and every other aspect of selling your home. Locate a RE/MAX agent in your area now.

He says this is because the problem has been disclosed by the seller and reported that it's been fixed. This will allow the buyers to feel that the problem has been completely resolved and therefore will not hold up the sale of the home.