Kevin, a buyer's agent in California, receives a TDS for a property his client wants to purchase. Several questions in the seller's section are left blank. What should Kevin advise his client?
Correct Answer
C) Request that the seller complete all applicable sections of the TDS before removing contingencies
Under California Civil Code §1102.6, the seller must complete all applicable sections of the TDS in good faith. An incomplete TDS does not satisfy the seller's statutory obligation. Kevin should advise his client to request a fully completed TDS before making decisions about contingency removal.
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The Transfer Disclosure Statement requires sellers to disclose various known property conditions under California Civil Code §1102 et seq. All of the following must be disclosed on the TDS EXCEPT:
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Under California Civil Code §1102, the Transfer Disclosure Statement applies to transfers of residential real property consisting of how many dwelling units?