Disclosures – What Torrance Homes Sellers Must Tell A Buyer About Their Home
Under California Law, the Seller must disclose all known facts about their home so you are fully aware of the condition of the home. Within 7
days (or date negotiated in purchase agreement) from acceptance of the contract, the Seller must deliver the following information for you to review and approve before proceeding with your purchase:
1. Transfer Disclosure Statement (TDS)
The Seller must reveal any information that would be important to the Buyer regarding condition of the property, and states that – to the Seller’s knowledge – everything pertinent has been disclosed.
2. Natural Hazards Disclosure (NHD)
The Seller must disclose to Buyers if the property is in any certain officially mapped natural hazard zone: earthquake fault zone, seismic hazard zone, flood hazard area, state-responsibility fire area, area subject to flooding or dam failure, and very high fire hazard severity zone.
3. Condominium/Planned Unit Development Disclosure
The Seller must disclose whether the property is a condominium or is located in a planned unit development or other common interest subdivision.
4. Geological Hazards and Special Studies Zones Report
The Seller must provide a copy of the ‘Homeowner’s Guide to Earthquake Safety’ for any dwelling built prior to 1960 which are of conventional light-frame construction, and any masonry building with wood-frame floors or roofs built before 1975.
5. Mello-Roos Disclosure
The Seller of a property consisting of a one-to-four dwelling unit subject to the lien of a Mello-Roos community facilities district must make a good faith effort to obtain from the district a disclosure notice concerning the special tax and give the notice to the Buyer.
6. Lead-based Paint Disclosure Statement
Applicable only for properties built before 1978. The Seller must disclose all known lead-based paint and lead-based paint hazards in the dwelling and provide the Buyer with any available reports. Sellers must give Buyers a 10-day opportunity to test for lead.
7. Environmental Hazard Disclosure
The Seller must disclose whether they aware of the presence of hazardous substances, materials or products including – but not limited to – asbestos, formaldehyde, radon gas, lead-based paint, fuel or chemical storage tanks, contaminated soil, water, or mold.
8. Smoke Detector Compliance Statement
The Seller must provide the Buyer with a written statement representing that the property is in compliance with Californialaw regarding smoke detectors. The state building code mandates that all existing dwelling units must have a smoke detector installed in a central location outside each sleeping area.
9. Water Heater Statement of Compliance
The Seller must certify, in writing, to the Buyer that all water heaters have been braced, anchored or strapped in accordance with local requirements to resist falling in an earthquake.
10. Preliminary title report
An examination of the public land records to determine the extent to which someone has legal interest in a parcel; a report on the quality of the title that searches for encumbrances and liens or any other items of record that might affect ownership; used as a basis for title insurance.
11. City Building Report
Depending on the city the home is in, the seller may have to provide the buyer with a building report or something equivalent. Ultimately it depends on the city as each is somewhat different.