Marco Nortel, Home Buyer in Santa Ana, CA

In California, at what point in escrow should the property disclosures be given to the buyers agent?

Asked by Marco Nortel, Santa Ana, CA Mon Jul 18, 2011

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13
Mike Capobia…, Agent, Orange, CA
Wed Sep 21, 2011
If they are not in the buyers hands by 7 days we can add a day to the contingency period for each day they are late.

Hope this helps,

The Capoteam
http://www.buyandsellpropertyonline.com
1 vote
Brenda Molloy, Agent, Irvine, CA
Wed Sep 14, 2011
Hi Marco,
The default time in the California purchase agreement is 7 days after acceptance for the seller to deliver to buyer property disclosures. If you don't get them in 7 days, you have 5 additional days after receipt of the disclosures to remove applicable contingencies or cancel the contract. If you are having trouble getting the disclosures, your agent can serve the seller's agent a notice to perform.
Good Luck!
1 vote
Emily Knell, Agent, Huntington Beach, CA
Mon Jul 18, 2011
The listing agent should be passing this information to the buyer agent 1 day after there has been an accepted offer, however it's just considered a "reasonable time".......should be no more than 3 days. It's possible the seller just hasn't filled out the information yet. Have your agent, got ON the listing agent to get this done.

You may also want to make an addendum to state that your due diligence period will BEGIN once All of those disclosures are in your hands.

EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Main Street Realtors
1 vote
, ,
Wed Oct 2, 2013
I no longer sell real estate so it could have changed ( I only do mortgages now days)

In California a buyer has 3 days to back out after getting any disclosure and get their full deposit back. So when I sold real estate I was a bit lax on it if I were the buyers agent. If anything went sideways and we needed out of the transaction not having the disclosures could turn into an asset. Many of the listing agents seemed to fall down on this point as well.

If I was a listing agent non the other hand, the buyers got their disclosures attached to the accepted purchase agreement.

I know it sounds a bit slimy, but as an agent I felt my job was to represent my customer and their interests. I never had a customer lose a deposit, though I did have to fight for one for about 7 months.

But yes the residential purchase agreement does call for the disclosures to be made within 7 days unless on line 14A, another time period is put in there.
0 votes
Great article. Thanks for the info, you made it easy to understand. BTW, if anyone needs to fill out a residential purchase agreement, I found a blank form here http://goo.gl/Hh7ngZ.
Flag Thu Mar 12, 2015
Mark Salmon, Agent, South Lake Tahoe, CA
Wed Sep 21, 2011
Disclosures are due to the buyer within 7 days of an executed contract, but either way, the buyer has 5 days to review regardless of if that goes over the inspection contingency period. If you do not have the disclosures in a timely manner, your only recourse is to sign a NSP or Notice to Seller to Perform which is good for 2 days.
0 votes
Melissa Zava…, Agent, Escondido, CA
Wed Sep 21, 2011
Disclosures should be prepared and ready for the buyer immediately upon opening escrow, so that you have enough time (usually 17 days) to do your due diligence. If you want them and don't have them, make an informal request, and then have your agent send a notice to perform (if necessary).
0 votes
Sharon Paxson, Agent, Del Mar, CA
Fri Sep 16, 2011
Hi Marco - you have some good answers and on the purchase agreement it defaults for 7 days unless another time frame is specified. The sooner the better, so you have the opportunity to review them.
0 votes
Harold Sharpe, Agent, Menifee, CA
Thu Jul 21, 2011
Marco,
The reasonable time is 7 days.
The best time is when the check hits the escrow office within 3 days and or at the home inspection.

Harold Sharpe - Broker
So Cal Homes Realty
(951) 821-8211
harold@socalhomesrealestate.com
http://www.realestatelakeelsinorehomes.com
California Department of Real Estate Broker License # 01312992
0 votes
Karen Parsons…, Agent, Laguna Beach, CA
Tue Jul 19, 2011
Hi Marco,

I take it you don't have them yet? Get your agent to work on this. The seller only has 7 days....but if you have signed off on a shorter time frame to remove contingencies...then make sure you get them right away so you have time to digest them. I like to have them in hand before the home inspection so the inspector can check anything disclosed.

Karen
0 votes
Connie Bramb…, Agent, Rancho Cucamonga, CA
Mon Jul 18, 2011
Hi Marco,
Page 5 of your contract. Section 14A. If the time frame is not changed the default time frame is 7 days for the seller to provide disclosures.

Connie Bramble
Prudential CA Realty
714-337-8718
0 votes
Roger Soucy, Agent, Orange, CA
Mon Jul 18, 2011
The earlier tbe befter. Your agent should be following the specifications notef in the Purchase Agreement.
0 votes
Thom Colby, Agent, Irvine, CA
Mon Jul 18, 2011
Marco -

It is clearly spelled out in the Purchase Agreement Section 14.

Best of luck,

Thom Colby
Broker / Owner & Certified HAFA Specialist
Thom Colby Properties
Newport Beach, CA
Moving Lives Forward (TM)
We NEVER DOUBLE-END Transactions in our Brokerage.
888-391-5245 Direct Cell
THOM@THOMCOLBY.COM
DRE# 01398570
0 votes
Ingrid Ski R…, Agent, Mission Viejo, CA
Mon Jul 18, 2011
Hi Marco,

Hopefully your agent can answer these questions and also you are able to talk with the escrow company with any questions you may have if the agent can not answer them.. It can take up to 2 weeks. which seems long and should be done before you release your contingencies... The contract states within 7 days for certain forms to be given to the buyer.. Do you have a copy of the contract. Surprised at the question that you aren't talking with your agent about this.. Good Luck ingrid Ski Realtor
0 votes
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