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. Transmission Disclosure Statement (TDS) (CC 1102) – specific form legally required by the seller of a residential property. Megan`s Law – the buyer must be provided with the necessary information to search the environment of sex offenders. If a buyer does not receive any of the information listed below, they may have 3 days to terminate their contract (or 5 days from the date of shipment) by notifying the Seller or Seller`s Representative (CC 1102.3). A California purchase and sale agreement is a contract between an individual/entity that sells a property and the individual/entity that intends to acquire the property. The parties, buyers and sellers, will settle the terms of the agreement in order to reach a mutually beneficial agreement. A price is set by the seller (and may be negotiated by the buyer) and a sale date is implemented. A purchase and sale contract also includes agreements and provisions that cover everything from financing opportunities and serious money to the state of real estate and inspections. It is legally required to include a disclosure that informs the purchaser of all matters relating to the condition of the property. Water heater and smoke detector compliance (HSC 13113.8) – To inform a buyer, smoke detectors and water heaters comply with national law.
Property Tax Information (C`1102.6c) – After the review, a 12-point rental agreement with 14-point policy must include: Wood Destroying Pests and Organisms Inspection Report (BPC 8516) – To be given to the buyer after the end of the inspection. Homeowner`s Guide to Earthquake Safety (CC 2079.8, CC No. 2079.9) – Necessary to be given to the buyer. Natural Hazard Disclosure Statement (ZK 1103.1) – The seller must supplement if the property is located near a natural hazard zone. Additional tax bills will not be sent to your lender. If you have ensured that your property taxes are paid through a foreclosure account, the additional tax bills are not paid by your lender. It is your responsibility to pay these additional bills directly to the collector. If you have any questions about this, please contact your local mailing office. Local Option Real Estate Transfer Disclosure Statement (CC No.
1102.6a) – Only complete if required by local jurisdiction. California property tax law requires the assessor to reassess the property at the time of the property modification. Under this act, you can receive one or two additional tax bills depending on the closing date of your loan. The Environmental Hazards Pamphlet (CC 2079.7) – A copy must be given to the buyer. Reference to your “complementary” property tax law.