Hi, Liz, your points are interesting, but I'm not sure they relate to this transaction - though we're all just speculating.
1. Zoning information is different from inclusion on the local historic register. The City's zoning maps don't show historic register information. And I've never seen it come up on the "L&I Cert" required for settlements, which comes from the city's Dept. of Licenses & Inspections - the department responsible for zoning information. 2. And as title clerk Suzanne Brady of SearchTec Abstract confirmed last week, local historic designation doesn't come up on title searches, either. 3. As for the Seller Disclosure required by PA law, it is NOT required on commercial properties. This building, with its last use as a personal care home, was most likely sold as a commercial property - so the safeguard of information from a Seller Disclosure would have been lacking here. 4. Also, my impression is that the current owners don't think the folks who sold to them realized that the building was on the local historic register, so the failure to disclose may not have been intentional. Clearly, we have all just learned that we should check the local register for EVERY real estate transaction we handle in the future, but I'm not sure that the buyers of 400 S. 40th St. missed something that would have been obvious to any of us before we learned this lesson! - Melani Lamond In a message dated 11/2/07 2:00:06 PM, [EMAIL PROTECTED] writes: > > As points of information: > > Real Estate Sale contracts for Pennsylvania properties must contain > ZONING information. > (The only exception is a "Single Family Residence".) > Zoning codes are public records, and while the Codes may seem complicated > or obscure, it remains the Buyer's obligation of "Due Diligence" to be > fully aware of Height, Setback, Use and other restrictions under each > Zoning definition. > > > Most Real Estate transactions are subject to delivery of a written > "Seller Disclosure" form to Buyer.. > Seller Disclosures must reveal the presence of any Historic Designation > and location within any Historic District. > In instances (Foreclosures, Estate Sales, etc.) where SD is not required, > the Buyer should be notified, in a writing, signed by Buyer and Seller. > And in those cases, the Buyer and Buyer Agent should be professional > enough to do proper Due Diligence. > > Best! > Melani Lamond, Associate Broker Urban & Bye, Realtor 3529 Lancaster Ave. Philadelphia, PA 19104 cell phone 215-356-7266 office phone 215-222-4800, ext. 113 office fax 215-222-1101 ************************************** See what's new at http://www.aol.com
