that contains a lead warning. You, the seller and the distributor sign a confirmation that these notification requirements have been met. Other environmental concerns. California has laws requiring sellers to provide buyers with an environmental risk report. This report may contain the following: taking objects such as underground oil leaks, the presence of radon or asbestos, lead water pipes, seismic hazards and other such hazards, as well as measures to eliminate these hazards. You can negotiate who will pay the cost of the necessary tests and/or cleaning operations. If you are not satisfied with the results of the inspection. In this case, you might want to renegotiate for a lower selling price or ask the seller to make repairs. Lead-based color. Normally, your real estate agent will conclude the pre-printed sales contract. You can make changes or additions to the contract, but the seller must agree to any changes you make. You should also agree with the seller on the date of possession and the equipment and personal belongings included in the house. Megan`s Law [§ 2079.10a(a)(3)) – All contracts for the sale of residential real estate in the State of California must contain the “Megan`s Law” clause regarding sexual predators.
California property tax law requires the assessor to revalue the property at the time ownership of the property changes. Under this law, you can receive one or two additional tax bills depending on when your loan closes. Declaration of Conformity for Water Heaters [Section 19211(b)) – Sellers of real estate must confirm in writing that the water heater contained in the property is properly secured to avoid displacement in the event of an earthquake. (The title form also contains the declaration of conformity of the fire detectors.) Property tax information (CC § 1102.6c) – the following must be included in a 12-point written rental agreement with a 14-point title: the sales contract should provide that your deposit will be refunded if the sale has to be cancelled because you cannot obtain a mortgage. For example, your sales contract could allow for termination of the purchase if you cannot get a home loan at a lower interest rate or at an interest rate that you indicated in the agreement. Real estate purchase contracts usually include promises and provisions guaranteeing the condition of a property. In some states, sellers must provide additional documents that guarantee the condition of the property….