Buyer’s Due Diligence

Caveat Emptor (Buyer Beware) has been Replaced with
CaveatĀ  Venditor (Seller Beware)

California zealously enforces statutes that require sellers to disclose all material facts that would affect the desirability of their property. Many lawsuits have been brought by those claiming that the sellers did not fully disclose all that they knew regarding a home.

Transfer Disclosure Statement & Sellers Supplemental Checklist

Within these two documents, the seller of a home must disclose information about their property. All issues are touched upon, from the size of the home and property, to many other issues.

These include:

  • Has there been a remodel and are there permits
  • Are there any problems with the foundation
  • Are there problems with any of the appliances?
  • Are there any cracks in the walls or sloping floors?

What Does This Mean To You?
You have the right to ask any question about the condition of the home.

  • Usually inspection reports are provided when the home is put on the mls.
  • All reports must be read and the buyer acknowledges receipt.
  • These acknowledged reports are made a part of the offer package.

You, as buyer, have the opportunity to conduct your own inspections.