Current through Register Vol. 54, No. 44, November 2, 2024
The following information and documents shall be
furnished annually to the Commission in report form for its review and
approval:
(1) Name of owner, including
the following:
(i) Names and addresses of the
owners or partners.
(ii) Lists of
the officers and holders of 10% or more of total subscribed or issued stock of
the corporation.
(iii) Copy of most
recent certified audit of records including financial statements.
(2) Names of subsidiary
organizations or companies.
(4) Address of
development.
(5) Addresses of
administrative offices.
(6)
Representative of the Commonwealth, including a list of the sales offices and
personnel in this Commonwealth.
(7)
Status of property, including the following:
(i) Owner of the land.
(ii) Whether land is free and
clear.
(iii) If land is mortgaged,
whether the mortgage is assignable, including the following:
(A) Whether individual lots can be
released.
(B) Cost per
lot.
(iv) Whether there
are judgments against or unpaid taxes due on the land.
(v) Whether abstracts or title policies will
be furnished.
(vi) Copy of type of
deed used.
(vii) Whether deeds are
issued in fee simple.
(viii)
Whether there is additional charge for issuing a deed.
(8) Improvements completed, including the
following:
(i) Paved streets.
(ii) Sidewalks.
(iii) Street lights.
(iv) Public utilities.
(v) Whether improvements are paid
for.
(vi) Tax rates.
(vii) If no improvements, plans for
completion.
(viii) If FHA approved,
copy of approval.
(9)
Whether bond has been posted with a governmental authority to guarantee
completion of promised improvements, including the following:
(i) Specification for what purpose.
(ii) Amount.
(iii) Name of bonding company.
(iv) How this bond will protect the
purchasers from the Commonwealth.
(v) Certified copy of the bonds
used.
(10) Sewage,
including the following:
(i) Sanitary
sewers.
(ii) Storm
sewers.
(iii) Whether water mains
or individual wells are necessary.
(iv) Whether septic tanks are
necessary.
(v) If septic tanks are
necessary, whether they are authorized by appropriate government
authorities.
(vi) Whether level of
land and type of soil is suitable for septic tanks.
(11) Drainage, including the following:
(i) Whether land is dry.
(ii) Copy of the drainage plan of the
engineer.
(iii) Depth of water
table.
(iv) Depth of average
well.
(12) Zoning
restrictions, including the following:
(i)
Copy of topographical map.
(ii)
Copy of State Board of Health Percolation Test one hole per 5 acres where
septic tanks are used.
(13) Advertising, including the following:
(i) Size of lots offered.
(ii) Price and terms of sale.
(iii) Whether these lots are large enough for
building purposes that would comply with zoning requirements.
(iv) If and where plot is recorded.
(14) Location, including the
following:
(i) Aerial photo showing exact
area with at least 1 mile of bordering properties.
(ii) How far property is presently from the
following:
(A) Highway.
(B) Incorporated town.
(C) Major shopping center.
(D) Industrial area including type and
size.
(E) Transportation including
bus and train.
(F) Schools-public,
trade, parochial or private.
(G)
Lighted streets.
(H) Type of
pavement and curbs.
(I) Fire
protection.
(J) Garbage and trash
removal.
(K) Police
protection.
(L) Airport and
airlines operated therefrom.
(15) Current selling price of lots in
adjoining area and owners of these lots.
(16) Financial arrangements, including the
following:
(i) Whether the down payment will
be placed in escrow and terms of release of the down payment.
(ii) Type of financing obtainable and percent
of interest charged.
(iii) Closing
costs, specifying for what.
(iv)
Specific listing of carrying charges.
(v) Types of contracts used.
The provisions of this §35.374 issued under the
Real Estate Licensing and Registration Act (63 P. S. §§
455.101-455.902).
