WILLIAM DONALD SCHAEFER, Governor                           S.B. 707

(2) PROVIDED TO THE VENDOR BY A UNIT OR INSTRUMENTALITY OF THE
STATE GOVERNMENT OR OF A POLITICAL SUBDIVISION; OR

(3) PROVIDED TO THE VENDOR BY A REPORT OR OPINION PREPARED BY A
LICENSED ENGINEER. LAND SURVEYOR, GEOLOGIST, WOOD-DESTROYING INSECT
CONTROL EXPERT, CONTRACTOR, OR OTHER HOME INSPECTION EXPERT, DEALING
WITH MATTERS WITHIN THE SCOPE OF THE PROFESSIONAL'S LICENSE OR EXPERTISE.

(I) (1) A REPORT OR OPINION PREPARED BY AN EXPERT SHALL SATISFY THE
REQUIREMENT OF SUBSECTION (G)(3) OF THIS SECTION IF THE INFORMATION IS
PROVIDED TO THE VENDOR PURSUANT TO A WRITTEN OR ORAL REQUEST FOR THE
INFORMATION.

(2) IN RESPONDING TO A REQUEST FOR INFORMATION, THE REPORTING
PARTY:

(I) MAY INDICATE, IN WRITING, AN UNDERSTANDING THAT THE
INFORMATION PROVIDED WILL BE USED IN FULFILLING THE REQUIREMENTS OF THIS
SECTION: AND

(II) IF SO INDICATING, SHALL INDICATE THE REQUIRED
DISCLOSURES. OR PARTS OF REQUIRED DISCLOSURES, TO WHICH THE INFORMATION
BEING PROVIDED IS APPLICABLE.

(3) IF THE REPORTING PARTY PROVIDES THE STATEMENT UNDER
PARAGRAPH (2)(II) OF THIS SUBSECTION, THE REPORTING PARTY IS NOT RESPONSIBLE
FOR ANY ITEMS OF INFORMATION, OR PARTS OF ITEMS, OTHER THAN THOSE EXPRESSLY
SET FORTH IN THE STATEMENT.

(J) (1) SUBJECT TO THE PROVISIONS OF SUBSECTION (F)(2) OF THIS SECTION,
THE RIGHTS OF A PURCHASER UNDER THIS SECTION MAY NOT BE WAIVED IN THE
CONTRACT OF SALE AND ANY ATTEMPTED WAIVER IS VOID.

(2) ANY RIGHTS OF THE PURCHASER TO TERMINATE THE CONTRACT
PROVIDED BY THIS SECTION ARE WAIVED CONCLUSIVELY IF NOT EXERCISED BEFORE:

(I) CLOSING OR OCCUPANCY BY THE PURCHASER, WHICHEVER
OCCURS FIRST. IN THE EVENT OF A SALE; OR

(II) OCCUPANCY. IN THE EVENT OF A LEASE WITH OPTION TO
PURCHASE.

(K) EACH CONTRACT OF SALE SHALL INCLUDE A CONSPICUOUS NOTICE
ADVISING THE PURCHASER OF THE PURCHASER'S RIGHTS AS SET FORTH IN THIS
SECTION.

(L) (1) THE REAL ESTATE LICENSEE REPRESENTING A VENDOR OF
RESIDENTIAL REAL PROPERTY AS THE LISTING BROKER HAS A DUTY TO INFORM THE
VENDOR OF THE VENDOR'S RIGHTS AND OBLIGATIONS UNDER THIS SECTION.

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