Carol Lollich, Broker-Owner
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State and Federal laws require the Seller to disclose to the Buyer anything which might affect the value or desireability of the property, or pose a potential hazard to the Buyer. Required disclosures include:
Transfer Disclosure Statement. States what is included in the property, and what if anything is not working or defective. Also states if the Seller is aware of any health or safety hazards or conditions, building or safety code violations, additions made without permits, neighborhood noise nuisances, etc.
Structural Pest Control Report (Termite Report). Includes evidence of termites or other wood-destroying organisms, including fungi (dry rot), which results from excess moisture.
Lead-based Paint Disclosure. State whether the Seller is aware of the existence of lead-based paint in their property, and if they have any reports regarding lead-based paint to give to the Buyer.
Homeowner's Guide to Earthquake Safety & Environmental Hazards Booklet.
Data Base Disclosure Regarding Registered Sex Offenders. This notifies the Buyer that they may have access to a data base of the locations of registered sex offenders.
In addition there are several "Zone Disclosures" that the Seller needs to provide to the Buyer. This information can be obtained from several companies who read the appropriate maps, and provide property specific reports based upon the state and federal records:
The transactional matters that have the potential to create the greatest conflict between sellers and buyers are incomplete and/or overlooked disclosures. So, it is very important for the Seller to be as complete as possible when providing these disclosures. Our motto is, "If you thought about it, disclose it". It is much better for a buyer to find out about a problem up front, than to not find out about it until after escrow closes. (They will find out, and they tend to get rather angry if they find out after they've bought the house.)
Note that selling a house "as is" does not release the Seller from their legal obligation to disclose. It simply means that the Seller is not obligated to do any repairs, and that the Buyer is taking the house in its present condition, knowing all of its faults. "As is" sales generally mean that the Seller will have to take less money for their house, and that the Buyer might be able to find a bargain.
JCP Geologists, Inc. - A leading provider of California's new Natural Hazard Disclosure Law.