Jeff’s Carlsbad Blog for First Time Home Buyers

Why Are There Disclosures?

Posted in Due Diligence,Glossary of terms,Real Estate Disclosures by Jeff Dowler on June 12, 2007

As a first time home buyer you will run across a number of disclosures as part of purchasing your first home. These will vary from state to state.

California has a large list of disclosures for buyer to review:

  1. natural hazards [fire, flood, earthquake, wildlife preservation, etc.]
  2. lead paint
  3. mold
  4. hot water heater security for earthquakes
  5. the seller’s disclosure called the TDS or Transfer Disclosure Statement

and so on.

Disclosures exist to inform the public of conditions that may impact their home saleso that they can decide if, knowing what they know, they still wish to purchase the home. Some are federal in nature that require the seller to disclose certain things, such as the presence of lead paint, outlawed in 1978 but found in many homes in certain parts of the country; others are state or community related, and some are optional. 

There are also some disclosures that have to do with the nature of the real estate relationship, such as how you are being represented (the relationship is referred to as agency) – as a buyer, as a seller, or when the agent represents both parties in the transaction as a “dual agent.”

Here is a link to a booklet on the disclosures in California (keep in mind that some may NOT be applicable in your transactions).


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