12.12.2001 :: Real Estate News
Seller's Advisory
by Graham Morland

Selling property in California is a process that involves many steps, taking anywhere from a few weeks to a few months. The seller's advisory addresses requirements that are imposed upon you by law, or the listing contract, or a sales contract. Not fully understanding and following the disclosure and statutory duties required by you the seller can lead to adverse arbitration and/or litigation. Your local real estate agent or the author of this article can help you understand your obligations and duties in selling your property.

This article covers the broad headings of each section. A full discourse can be emailed, faxed, or mailed, as you require. If you already have an agent ask them for CAR form SA-11. Requests can be made to the author at graham@santacruzrealty.com, or calling his direct line at 831-464-5237.

General Disclosure: You must affirmatively disclose in writing any and all facts that materially affect the value or desirability of you property. You must disclose these facts whether or not a buyer asks you about such matters. You are also obligated to disclose these facts even though you may be selling, or a buyer buying, the property in an "as-is" condition.

Statutory Duties: (For 1 to 4 Residential Units). In a timely manner, determined in a sales contract you are required to deliver in writing the following items: Transfer Disclosure Statement, Natural Hazard Disclosure Statement, Environmental Hazards Report, Former military ordinance location within 1 mile, zoning or district allowing manufacturing, airports, commercial use, Mello Roos Community Facilities Act, Asbestos disclosure, mold disclosure, Megan's Law disclosure, Death and/or Aids, CC&R's, Non Foreign Status, California Residency Status. This list is not meant to be all-inclusive due to the many different classes of property and fixtures. It is meant to show how important it is for sellers to do full disclosure.

One last thought. It is often advisable to get your own inspections done prior to offering a property for sale. Having licensed professionals do these inspections will reveal material facts that you are required to disclose but are possibly unaware of. These inspections are not extraordinarily expensive, and a good agent will help you find inspectors. Make sure your inspector is licensed. A good professional inspector should carry Errors and Omissions Insurance to guard you and them against costly litigation.

Graham Morland is the producer of SantaCruz-RealEstate.com. He moved to the field of professional real estate after a very successful career as an executive in high technology computing. Currently the broker/owner of Sterling Properties, Graham can be reached by email at Graham@SantaCruz-RealEstate.com or by phone at 831.688.2310.