Pennsylvania Code
Title 49 - PROFESSIONAL AND VOCATIONAL STANDARDS
Part I - DEPARTMENT OF STATE
Subpart A - PROFESSIONAL AND OCCUPATIONAL AFFAIRS
Chapter 35 - STATE REAL ESTATE COMMISSION
Subchapter G - PROMOTIONAL LAND SALES
Section 35.373 - Offering statements
Current through Register Vol. 54, No. 44, November 2, 2024
(a) The Commission also requires the applicant to prepare and deliver at its own expense, to each prospective purchaser in this Commonwealth an offering statement which shall be revised annually. The offering statement shall be approved by the Commission and shall contain a detailed description, price and terms of the offer as well as financial information disclosing assets and liabilities of the applicant. The offering statement shall also inform prospective purchasers of the following:
(b) The offering statement shall also set forth on the front page in large bold face type or italics, the following statement:
"The State Real Estate Commission's requirements of this broker, developer or subdivider does not constitute approval of the land being offered for sale or lease. The State Real Estate Commission has not in any way passed upon the merits of such offer."
The provisions of this §35.373 issued under the Real Estate Licensing and Registration Act (63 P. S. §§ 455.101-455.902).
