Los Angeles Seller Disclosure Statement/Buying a Home
California Section 1102 Transfer Disclosure Statement (TDS)
Under California's civil code, residential property sellers are required by law to disclose all known property defects, title defects and other pertinent issues about property so that the buyer can make an informed decision when signing the buy-sell agreement. If the seller fails to properly provide the requisite Section 1102 Transfer Disclosure Statement (TDS), the seller can be held responsible for any subsequent damages to the property.
At the Law Offices of Edward C. Ip & Associates, APC, we represent both buyers and sellers in 1102 disclosure disputes. Our Los Angeles disclosure disputes attorneys have extensive experience with the details and requirements of property disclosures and TDS documents. Whether you are a seller needing help with a TDS prior to/after a sale or a buyer who has suffered damages due to non-disclosure by a seller, we can help.
Representing Buyers in Disclosure Disputes
If the seller failed to disclose certain issues, we can help you hold the seller responsible. Section 1102 requires the seller of any real property (with some exemptions such as the sale of a new home, foreclosed sales or transfer from one co-owner to another) to disclose all known material defects. For example, suppose a person died in the home. This must be disclosed in the TDS to the buyer. Even if the death was three years ago, this still must be disclosed.
This is a very stringent requirement under California law. A seller cannot waive this duty and any attempt to do so is void as a matter of public policy. Furthermore, the damages from a non-disclosure claim are actual damages. For example, if the seller failed to disclose that the roof is damaged and it costs the buyer $5,000 to repair the damage, damages are $5,000. If you are a buyer who has suffered damages due to non-disclosure on the purchase of your residential property, our law firm can aggressively seek damages on your behalf.
Representing Sellers in Disclosure Disputes
A seller is well advised to always provide a proper TDS document to a buyer in any sale of California residential real estate. If you fail to do so, the buyer can come back and claim damages for non-disclosure. Information that must be disclosed in the TDS includes:
- Property's physical condition
- Any dangerous or hazardous conditions
- Encroachments, easements or encumbrances
- Claims on the property
- Title defects
If you are a seller and are facing a non-disclosure claim from the buyer of your residential property, seek our assistance immediately. We can effectively defend you using our many years of experience.
Contact Us to Discuss Your California Disclosure Dispute
For more information about our disclosure dispute representation services, contact us today. Reduced rate for first hour consultation regarding your case. Our Los Angeles lawyers are available during weekend and evening hours by appointment, and we accept credit cards. We can counsel clients in Chinese, both Cantonese and Mandarin as well as Spanish, Punjabi and Hindi.
**The information provided on this post does not, and is not intended to, constitute legal advice; rather, all information, content, and material on this post are for informational purposes only.**