There are 7 day standard default time periods for the seller to deliver required disclosures and reports to the buyer for their inspection. These include the following:
a. Transfer Disclosure Statement, in which the seller discloses the current status and condition
of the home, and any other defects which the seller is aware.
b. Natural Hazard Zone Disclosure Report, and Natural Hazards Disclosure Statement
in which the seller discloses whether the property is in a flood zone, high risk earthquake
zone, or a high fire risk zone
c. Earthquake Hazards Booklet and Environmental Hazards Booklet
d. Lead Based Paint Disclosures
e. Whether the home is a condominium or part of a planned unit development (P.U.D.), If so,
the seller has 3 days to request that the Homeowners Association provide relevant HOA
documents, including financial statements, current years budget, an analysis of the required
level of reserves, and meeting minutes
f. Smoke Detector Statement of Compliance
g. Supplemental Statutory and Contractual Disclosures, in which the seller provides other
required disclosures, such as insurance claims made within the previous 5 years, whether
someone has died in the property within the past 3 years, among others.
h. Request a preliminary title report, that would report any liens, encumbrances or easements
affecting title to the property.
i. Water Heater Statement of Compliance
j. Statewide Buyers and Sellers Advisory- Discusses issues which a buyer should consider
k. Sellers Property Questionnaire- Seller’s disclosure of property condition
For more information about the Standard California Real Estate Purchase Contract , visit my website at https://www.maureenmegowan.com
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