Martin, a real estate salesperson in California, is listing a home for sale. The seller asks Martin whether the property's proximity to a busy airport needs to be disclosed on the TDS. Under California disclosure law, what is the correct answer?
Correct Answer
D) Yes, if the seller is aware that airport noise or overflight patterns affect the property, this is a material fact that should be disclosed
Under California disclosure law, sellers must disclose known external conditions affecting the property. If the seller is aware that airport noise or overflight patterns affect the property's livability or desirability, this is a material fact that should be disclosed on the TDS. Airport influence areas may also trigger separate disclosure requirements.
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Previous Question
A California seller fails to provide a Transfer Disclosure Statement before close of escrow. Two years after closing, the buyer discovers undisclosed foundation problems. The seller claims the buyer waived the TDS by proceeding to close escrow. Which statement best describes the buyer's legal position under California law?
Next Question
A dual agent in California is handling the sale of a residential property. The seller tells the dual agent about a recurring drainage problem in the backyard. The dual agent owes fiduciary duties to both the buyer and the seller. Regarding the drainage issue, what must the dual agent do?