Like other government agencies in Pennsylvania, the Pennsylvania Department of Transportation has the power to exercise eminent domain, meaning it can take the property of a Philadelphia resident and apply that property to a public purpose, such as building or improving a road.
Protecting against violations of disclosure laws
A previous post here discussed Pennsylvania's Seller Disclosure Law and how that law changes the traditional doctrine of "caveat emptor," or let the buyer beware. A seller not only has to be truthful in what he or she does say about a home or other residential property, the seller also has a duty to report certain material defects.
Philadelphia still a great value for newcomers
Although slipping a bit from the number two spot last year, a recent report prepared by a website specializing in personal finance found Philadelphia to be one of the top ten most "undervalued" cities in the country, coming in at number eight. In the survey, an "undervalued" city is one in which a person buying a home in that city will likely get more out of their real estate investment in the city than the are likely to put in.
Overview of Pennsylvania's real estate disclosure law
Many residents of Philadelphia have probably heard the phrase "caveat emptor," a legal doctrine that basically means "let the buyer beware." The doctrine, which traditionally applied to almost all purchases, including purchases of a new home, means it is the buyer's responsibility to check out property before they sign an agreement and pay money for it.
