Homebuyers and Sellers
Whether you are buying your first or second home, if you are like most Americans, that purchase will be one of the largest investments of your life. Each choice you make when entering into a transaction to buy a home carries potential long-term effects and consequences, which is why access to solid legal advice and guidance is so important.
When purchasing a home you will, at a minimum, sign a purchase agreement, escrow instructions and closing instructions as well as acknowledge numerous legal disclosures. You will also sign instructions releasing and forfeiting your deposit upon certain events or milestones. If you are selling your home, you will also sign a purchase agreement and escrow instructions, as well as detailed, statutorily mandated disclosures regarding your property’s condition. These documents are legally binding representations and contractual commitments which govern, control, protect, or potentially place at risk your largest investment. A misunderstanding of, a mistake made, or a missing term overlooked when these legal obligations are created can be extremely costly.
At NHLG, our seasoned real estate lawyers are dedicated to guiding you through the real estate purchase and sale process by plainly explaining the terms and conditions of the agreements and providing you with legal advice that is easy to understand. We are available to our clients for advice and guidance throughout the whole process and understand that homebuyers and sellers have important questions that arise at any time, be it at night or on the weekends. We understand the importance and value of access to immediate advice when needed and will be with your family every step of the way to make sure that your investment and hard-earned money is protected and that you feel confident and cared for during the process.
Seller Disclosure Laws in California
The law governing real estate transactions and disclosures is complex and in order to avoid liability, it is important that homebuyers and sellers understand their legal obligations when entering into a real estate transaction in California.
Cal.Civ.Code §§1102-1102.17 governs seller disclosure requirements in California. Some of the most common property defects that a seller must disclose are as follows:
- Defective interior walls, ceilings, floors, exterior walls, or insulation;
- Defective roof(s), windows, and doors;
- Defects in the foundation, slab(s), driveways, sidewalks, walls/fences, and electrical systems; and
- Defective plumbing, sewers, or septic systems
Equally important, a seller must disclose if the home is in any of the following natural disaster zones:
- Special Flood Hazard Area;
- Potential Flood Area;
- A Designated Very High Fire Hazard Severity Zone;
- A Designated Wildland Area;
- An Earthquake Fault Zone; and
- A Seismic Hazard Zone
Mandatory disclosures must be made in compliance with the guidelines set forth by the California legislature and the Department of Real Estate. NHLG will walk you through the process to make sure your disclosures comply with California’s Civil Code.
Liability for Improper or Inadequate Disclosures & our Services
Any seller who knowingly or negligently fails to comply with their obligations under California’s seller disclosure laws can be liable for actual damages that were caused as a result of that failure pursuant to Cal.Civ.Code §1102.13.
This specific provision of California’s Civil Code demonstrates the value of having the assistance of a lawyer who can explain what is required by law for each party as well as the legal recourses available to you if you are ever mislead by the other party to the transaction or inaccurately accused of having doing so.
We understand that the process of buying and selling a home is among the most emotionally charged times in one’s life. It is exciting, overwhelming, stressful, and often goes hand-in-hand with other major life events – marriage, the expectation of a new child, a job change and relocation to a new city, or the loss of a family member. As experienced professionals, we understand the legal ramifications of being forced, during a short window of time, to make complicated decisions with limited time, occurring at a point in your life when you have a lot on your plate. With NHLG managing the transaction, you can focus on your family, your work, and your life, knowing that your investment and legal interests are protected.
Our real estate attorneys will review, explain, and edit the contracts governing the purchase or sale of your home, will guide you through the disclosure process, and will be available to your family for guidance and advice throughout the entire process.