Home selling in California (& other states) is filled with a variety of required disclosures, and as a home seller you have a duty…a duty to disclose!

Some mandated others are optional. Some are required on traditional and short sale transactions.  Probate sales are exempt from some, yet not all disclosures, while properties held in a family trust do not share in the same exemptions.

As a general rule, disclosures are meant to inform prospective buyers, to level the playing field so-to-speak. Some of the mandated disclosure in CA have a rescission period for the home buyers.  Then again federally required disclosure have their own rules with a buyer’s right of rescission, in one case it can be up to 10 days. And that disclosure cannot be waived in any of the noted exemptions mentioned above.

So if you are a home seller, it’s crucial you understand the laws of the duty to disclose as it applies to your state, in addition it’s essential you have full knowledge of federal disclosure requirements as it applies to your sale.

No two sales transactions are identical, be sure you’re working with a professional who understands the difference!

Written by Class Instructor: Lynda Eisenmann

I maintains an active residential re-sale brokerage in Brea, CA, located in Orange County, about 20 minutes north of Disneyland. Contact Lynda directly at (714) 595-1494, or Lynda@PreferredHomeBrokers.comCA License #00402040

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