Disclosures in real estate are legally required documents that inform buyers about known issues with a property. They provide transparency about the property’s condition, helping buyers make informed decisions before finalizing a purchase.
Why Are Disclosures Important?
- Legal Protection – Proper disclosures help sellers avoid future legal disputes by ensuring buyers are aware of potential defects or concerns.
- Buyer Awareness – Buyers can assess risks and make informed choices about whether to proceed with the purchase or negotiate repairs.
- Trust & Transparency – Disclosures build trust between buyers and sellers, making the transaction smoother.
- Compliance with Laws – Many states have strict disclosure requirements, and failure to provide them can result in lawsuits or penalties.
Here Are The Disclosures Required In The Sale Of A Decedent’s Property:
- Advisability of Title Insurance
- Agency Disclosure
- Agency Confirmation
- Area of Potential Flooding
- Broker’s Statutory Duty to Inspect Property
- Carbon Monoxide Detector Compliance
- Common Interest Development Documents
- Death (in last 3 years)
- Discriminatory Covenants
- Earthquake Fault Zone
- Electrical System Inspection Notice
- FHA/HUD Inspection Notice
- FIRPTA (Federal Tax Withholding) and California Tax Withholding
- Flood Disaster Insurance Requirements
- Gas and Hazardous Liquid Transmission Pipeline Notice
- Groundwater Basin Comprehensive Notice (if received)
- Lead-Based Paint Pamphlet and Form
- Material Facts
- Megan’s Law Disclosure (Registered Sex Offender Database)
- Meth Lab Clean-Up Order
- Pest Control Inspection Report and Certification
- Seismic Hazard Zone
- Smoke Detectors Must Be In Compliance
- Special Flood Hazard Area
- State Responsibility Area (Fire Hazard Area)
- Very High FireHazard Severity Zone
- Water Conserving Fixtures Compliance
- Water Conserving Fixtures Disclosure
- Water Heater Bracing Requirement
- Water Heater Bracing Statement of Compliance
For questions about disclosures and probate transactions, reach out to your escrow team! You can also refer to CAR’s disclosure chart here.
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