Create Document
Adobe PDF
Microsoft Word
Realtor Version
|
|
Buyer Beware (Caveat Emptor)
Vermont is a “Buyer Beware” state. Aside from a few specific mandatory disclosures, private sellers are generally not required to volunteer property information, placing the burden of due diligence squarely on the buyer.
Exceptions:
- Fraudulent Concealment: Sellers lose “Buyer Beware” protection if they take active steps to hide a defect or intentionally deceive the buyer (Silva v. Stevens (1991)).
- New Construction: Homebuilders are bound by an “implied warranty of habitability,” which guarantees that the structure is safe (Rothberg v. Olenik, 128 Vt. 295 (1970)).
- Real Estate Agents: Licensed agents cannot hide behind a seller’s right to silence; state law mandates they proactively disclose all known material facts to buyers (§ 2296).
Required Disclosures (2)
1.) Flood Risk: Sellers and landlords must provide a FEMA flood map and detail any historical flooding, erosion, or landslide damage during their ownership (§ 380). The disclosure clarifies whether flood insurance is currently in effect or required for the property.
2.) Lead-Based Paint Disclosure: Sellers must submit this federal disclosure if the property was built before 1978 (42 U.S. Code § 4852d). The state of Vermont also requires sellers of all homes, regardless of the year of construction, to furnish buyers with the following documents pertaining to lead-based hazards:
- Protect Your Family From Lead in Your Home (EPA Guide)
- Lead-Safe Certified Guide to Renovate Right (EPA Guide)
- Vermont RRPM For Homeowners, Renters, and Child Care Providers
3.) Private Water Supplies Safety Guide: If the property being sold uses a private well or spring, the seller must furnish the buyer with this Vermont Department of Health pamphlet, which outlines groundwater contamination risks and protocols, within 72 hours of contract execution.
4.) Smoke and Carbon Monoxide Detector Certification: At closing, the seller must provide a signed certification proving the property has functional photoelectric smoke and carbon monoxide detectors (§ 2883). The installation must comply with all current Vermont Division of Fire Safety regulations.
Optional Disclosures (1)
1.) Seller’s Property Information Report (SPIR): This comprehensive form details the property’s structural components, mechanical systems, environmental issues, zoning compliance, boundary lines, and Condominium/HOA obligations. Although it is voluntary, buyers typically require this form to be submitted, and real estate agents are legally obligated to disclose all material defects (§ 2296).
Chat with a Lawyer