If you’re in a hurry to sell your house or determined to get top dollar from a buyer, you may be tempted to “forget” certain problems with your property or to understate their severity. Details in real estate law change frequently, but below we have mentioned some of the lesser known California Civil Code mandatory disclosures. You might not know that your property has these problems, but if you do, disclose them. Disclosure is much less expensive and time-consuming than facing litigation later. If you’re selling a home in Sonoma County, see a real estate attorney in Santa Rosa, Sonoma County to make sure you’re complying with current state and local laws and to ask about disclosures specific to the home you’re selling.
What Sellers Have to Disclose in California
Certain sales are exempt from the usual disclosures, including some foreclosure sales, some sales of homes in new subdivisions, some court ordered transfers, and some probate and trustee sales, and other transfers within the family. The disclosure rules apply to most home sales, though.
This is by no means a complete list, but a few of the conditions sellers are responsible for disclosing are the presence of lead and other hazards, a flood, fire,or earthquake zone, special bonds and taxes like a Mello-Roos tax, the property being within one mile of a military training area using live ammunition, window bars’ safety release mechanisms, and adjacent properties zoned for industrial use or other uses which could be a nuisance.
Anything that could be considered by the buyer later to have a “material effect on the value or desirability of the property” could come back to haunt you.
So don’t end up paying your buyer for their lawyer fees and repairs or lost equity in their home just when you thought your transaction was finally complete. Whether you have questions about the sale of your home and what you need to disclose or you think that a seller failed to disclose something when you bought your home, consult a real estate attorney in Santa Rosa, Sonoma County. Johnston Thomas Law is happy to advise or represent you. CONTACT US or call (707) 200-1362.
This blog is not intended to be legal advice. Consult a real estate attorney in Santa Rosa, Sonoma County to see how our local laws affect the sale of your property.