Introduction:
When it comes to selling a residential property with one to four units, the seller has a legal obligation to disclose known material information affecting the value or desirability of the property. This is typically done through a Real Estate Transfer Disclosure Statement (C.A.R. Form TDS) and a Seller Property Questionnaire (C.A.R. Form SPQ). Additionally, a natural hazards (NHD) report can be ordered from a third-party company to identify any hazards in the property’s location. In this article, we’ll discuss the duty to disclose, how to modify a disclosure, and the buyer’s right to rescind if the disclosures are made after an offer has been made.
Duty to Disclose:
As mentioned, the seller of a residential property has a legal obligation to disclose known material information that could affect …
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