Pennsylvania Disclosures, Escrow/Trust Funds & Key Numbers

📋 The 1-minute cheat sheet

• Sellers of residential property must complete a Seller's Property Disclosure Statement covering the property's known material defects.
• The property disclosure is delivered to the buyer before an agreement of sale is signed/executed.
• Lead-based paint disclosure is required for most homes built before 1978 (federal requirement applied in PA).
• Client/escrow money must be held in the broker's separate trust (escrow) account, not commingled with the broker's own funds.
• Deposits and other entrusted funds must be deposited promptly per the Commission's regulations.
• Salesperson pre-license hours: 30 (Fundamentals) + 45 (Practice) = 75 total.
• The Consumer Notice on agency is given at the initial interview / first contact — remember it as the 'first-meeting' disclosure.