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This document outlines the terms and conditions for the purchase and sale of a new construction property, detailing key elements such as the purchase price, closing costs, community association information, and warranties. It includes sections on earnest money, inspections, and dispute resolution, as well as requirements for both buyers and sellers concerning disclosures and inspections.
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New construction purchase refers to the acquisition of properties that have been newly built or are currently being constructed, usually involving residential or commercial real estate.
Typically, the buyer or purchaser of the newly constructed property is required to file the new construction purchase report with the relevant local or state authorities.
To fill out the new construction purchase report, the buyer must provide details such as the property address, the purchase price, the construction company's information, and any applicable permits or certificates.
The purpose of the new construction purchase report is to document the transaction for tax assessment, compliance with local regulations, and to provide information for future property assessments.
The information that must be reported includes the buyer's information, seller's information, property description, sale price, details of the construction work done, and the completion date.
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