Title Insurance Advice (No. 1057.6) – If the buyer does not retain property insurance for the purchase of a residential property during a fiduciary transaction, it must be contacted with the following paragraph: California Residential Purchase Agreement – A legal document that creates a sale of residential real estate between a seller and a buyer. The California sales contract is the official legal form that is applied when a person wishes to sell his property to another party. The seller (or his representative) makes available to the buyer a copy of the document containing all the essential provisions, disclosures and general information necessary to safeguard a binding contract. As a general rule, a serious money deposit will be made on behalf of the buyer as a sign of good faith before the actual conclusion. All exchange-related financing should be set out in the form to avoid any dispute over payment. Disclosure Statement (TDS) (No. 1102.4) – The seller is legally required to provide the potential buyer with a completed disclosure form containing important information about the property sold. The following required information may also be included in the form: Natural Hazard Disclosure Statement (NHDS) – The seller or his representative is responsible for providing the buyer with a disclosure form informing the buyer of the potential natural risks associated with the contract. The form attached above contains the following information: California property tax legislation requires the assessor to reassess the property at the time of the change of ownership. Under this act, you can receive one or two additional tax bills depending on the closing date of your loan. Disclosure statement forwarded.
California`s official form for disclosing known problems that could have a negative impact on the value of a home or pose an unacceptable risk to the safety or health of buyers. (CAL. CIV No. 1102.4) Contracts for the sale of residential real estate generally contain promises and provisions guaranteeing the condition of a property. In some states, sellers are required to provide additional documentation to ensure the status of the accommodation. While other states require the seller to reveal a certain type of problem on the ground, such as. B a material error. In California, in addition to the sales contract, you must complete the following documents: Environmental Hazards Guide for Homeowners, Buyers, Landlords, and Tenants (p. 2079.7) – Sellers/agents can provide this informative brochure to buyers to provide additional information about environmental risks (since they are considered sufficient data). Megan`s Law (p.
2079.10a (3) ( 3) – All contracts for the sale of residential real estate in the State of California must include the “Megan`s Law” clause on sex offenders. Megan`s Law – the buyer must be provided with the necessary information to search the environment of sex offenders. Structural Pest Control Report (s. 1099) – If included in the sales contract, the seller is required to submit a report to the buyer on the inspection of pests to the structures. Water conservation devices and detectors (CC 1101.4) – Inform the purchaser of water features that need to be replaced during the construction and condition of carbon monoxide detectors. Water Heater Compliance Statement (B) – Property sellers must certify in writing that the water heater in the property is properly secured to prevent displacement in the event of an earthquake.