California Residential Property Purchase Agreement

04 Dez California Residential Property Purchase Agreement

Local Option (No. 1102.6a) – Some California cities and counties require that a secondary disclosure form be completed for data specific to the municipality where the property is located. The general form is available in Adobe PDF or Microsoft Word (.docx). Water Heater Compliance Statement (B) – Property sellers must certify in writing that the water heater in the property is properly secured to prevent displacement in the event of an earthquake. (The title form also contains the fire compliance statement.) Military Order (No. 1102.15) – Persons who sell a property near a military base or establishment are required to provide the purchaser with a written disclosure defining his or her position regarding the residence. 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. 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. Disclosure Statement (TDS) (No. 1102.4) – The seller is legally required to provide the potential buyer with a completed disclosure form containing important information about the property sold. The following required information may also be included in the form: If the buyer does not receive any of the information listed below, he may have three days to terminate his contract (or 5 days from the date of shipping) by providing a notification to the seller or seller`s representative (CC 1102.3). Community Facilities District (CFD) (S.

1102.6b (b)) – If the property sold is in a Mello-Roos-listed area, the seller is required to send the buyer a notification of specific tax information relating to the area. If you hire a real estate agent in California to help you buy or sell a home, you use a standard form sales contract for that transaction.