California Real Estate Transfer Disclosure Statement TDS

California Real Estate Transfer Disclosure Statement TDS


When you buy a used car from some guy on
Craigslist, the old adage buyer beware comes to mind.
The rules for buying a home in California are different. Sellers are
required by law to tell buyer certain things about the property for sale. These
are known as property disclosures. Some disclosures are routine, like the
potential for lead-based paint in buildings constructed before 1978, and
these come in a pre-printed booklet. For others, we use a form called the Real
Estate Transfer Disclosure Statement that the seller completes. Hi. My name is
Jason Allen-Rouman, and I’m a real estate agent in Palm Springs, California. Listen,
I’ve seen sellers get panicky when I tell them they have to disclose
information about their home, but I remind them of two things. First, the Real
Estate Transfer Disclosure Statement is very specific and focuses on things like
what’s included in the sale and then other facts that only the seller would
know about the property. Second, this isn’t a questionnaire to find out what
the seller doesn’t like about the home. So what sorts of questions does the form
ask? Things like what appliances are included, are there modifications to the
property, or has there been major damage from fire, earthquakes, floods, or
landslides. These are all questions with objective answers that a seller should
be able to fill out. And for my 10 years of experience, this information helps
buyers make deals that stick. Think about it. Almost all buyers get a property
inspection once their offer is accepted. If they discover something the seller
should have disclosed, there’s suddenly a credibility problem that can jeopardize
the deal. If the buyer later discovers something that the seller should have
disclosed prior to the close of escrow, then we’ve got a problem that nobody
wants. If you’re at all confused about the California Real Estate Transfer
Disclosure Statement, be sure to ask your agent before you start to fill it out. If
you don’t have an agent, shoot me a message, I’ll do my best to
help you or give you a referral. One quick note. Real estate agents also have
legal disclosures that they need to give to consumers, but I’ll cover
that another video. That’s all for now. Thanks for watching.

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