Nico, Home Seller in Los Angeles, CA

What are the California statutory requirements a seller must provide for the buyer?

Asked by Nico, Los Angeles, CA Sun Jul 26, 2009

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Nico
There are different requirements for different areas. As I am not in your area your local REALTOR should provide you with all the necessary disclosures. If you do not have a REALTOR, then you must do lots of research for your area on the laws of disclosure..
Some of the required disclosures depend upon the type of sale:
Is the home owner occupied? It the property a TRUST sale? Probate Sale? Short Sale? Foreclosure? Are there tenants? Did anyone die in the property?
And more about the house:
Animals? Crime activity? Smells? Earthquake or Flood Zone? Melow Roos Tax or Bonds? Water Heater and Energy Retrofit?
There are so many forms and disclosures, it can be confusing for experienced REALTORS. However, you may be exempt from many of these disclosures if this is a TRUST sale, Probate, or you have never lived in the home.
My sugestion is to interview 3 agents and see what you think. Then make a decision and disclose, disclose, disclose!
Web Reference: http://SFlisting.com
1 vote Thank Flag Link Sun Jul 26, 2009
Bottom Line: You MUST disclose what you know and should know to the best of your ability. You're not required to be a contractor or expert.

Physical condition of property, structural, roof, foundation, electrical, plumbing. Also think back & look for paperwork if you ever had to file a Hazard Insurance claim.

The sites already mentioned are good, especially the Department of Real Estate website for consumer forms. You can also check out local board, there is a consumer section at http://pwr.net

If you're going as a FSBO, keep in mind, buyers are looking for a deal & it doesn't cost a buyer anything to hire an agent & get their own representation.

emilyknell1@yahoo.com
0 votes Thank Flag Link Mon Jul 27, 2009
Go to http://www.dre.ca.gov. All consumer information regarding California real estate transactions can be found at that site.

Paramount are disclosures. Anything that may affect the desireability and habitability of the home must be disclosed to the buyer. A pre-listing (or pre-sale) home inspection and thoughtful documentation is the best way to discourage litigation.
0 votes Thank Flag Link Sun Jul 26, 2009
Your Realtor should be able to provide that information to you. If you are selling it yourself, FSBO.com is a good rescource for forms.
Web Reference: http://cindihagley.com
0 votes Thank Flag Link Sun Jul 26, 2009
Cindi Hagley, Real Estate Pro in San Ramon, CA
MVP'08
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