Water Heater and Smoke Detector Compliance (HSC § 13113.8) – To inform a buyer, the smoke detector and water heater comply with state law. Declaration of Conformity of Fire Detectors [Section 13113.8(b)) – This declaration must be provided to a potential buyer interested in purchasing a detached home. You must then confirm the form that confirms that the seller complies with California fire detection laws. Megan`s Law — the buyer must be given the information necessary to search for sex offenders in the environment. If you do not have a real estate purchase agreement, you and the other party do not have a clear understanding of your rights, the potential risks and the economic impact of these potential risks. Without an agreement, it will be much more difficult to negotiate the extent of each party`s liability and enforce your legal rights. 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. While other states require the seller to reveal a certain type of problem on the ground – for example. B a clerical error. In California, in addition to the sales contract, you must complete the following documents: Treuhandservice: Treuhandservice is a neutral third party responsible for keeping funds during the purchase transaction. Serious money deposits are usually deposited on Treuhand.
Escrow offers protection to both parties as long as the contractual risks are still outstanding. At the end of the purchase, the deposit of serious money is charged to the purchase price. When the contract is terminated in accordance with the terms of the contract, the serious deposit is usually returned to the buyer. Consider this document as a roadmap for the period between the signing of the contract and the conclusion of the sale….