California real estate disclosure laws California Real Estate Disclosures | Page 15

SECTION 1102.3 OF THE CIVIL CODE PROVIDES A BUYER WITH THE
RIGHT TO RESCIND A PURCHASE CONTRACT FOR AT LEAST THREE
DAYS AFTER THE DELIVERY OF THIS DISCLOSURE IF DELIVERY OCCURS
AFTER THE SIGNING OF AN OFFER TO PURCHASE. IF YOU WISH TO
RESCIND THE CONTRACT, YOU MUST ACT WITHIN THE PRESCRIBED
PERIOD.
A REAL ESTATE BROKER IS QUALIFIED TO ADVISE ON REAL ESTATE. IF
YOU DESIRE LEGAL ADVICE, CONSULT YOUR ATTORNEY.

(CAL. CIV. § 1102 et. seq.)

3. Local Option Real Estate Transfer Disclosure Statement
A city or county may require that the seller provide specific information
about the neighborhood or community: The Civil Code requires that such
local disclosure statements be in the following format:
LOCAL OPTION
REAL ESTATE TRANSFER DISCLOSURE STATEMENT
THIS DISCLOSURE STATEMENT CONCERNS THE REAL PROPERTY
SITUATED IN THE CITY OF _______________, COUNTY OF _____________,
STATE OF CALIFORNIA, DESCRIBED AS ________________________. THIS
STATEMENT IS A DISCLOSURE OF THE CONDITION OF THE ABOVEDESCRIBED PROPERTY IN COMPLIANCE WITH ORDINANCE NO. ______
OF THE ___________ CITY OR COUNTY CODE AS OF ___________, 20___.
IT IS NOT A WARRANTY OF ANY KIND BY THE SELLER(S) OR ANY
AGENT(S) REPRESENTING ANY PRINCIPAL(S) IN THIS TRANSACTION,
AND IS NOT A SUBSTITUTE FOR ANY INSPECTIONS OR WARRANTIES THE
PRINCIPAL(S) MAY WISH TO OBTAIN.
I
SELLER’S INFORMATION
The Seller discloses the following information with the knowledge that even
though this is not a warranty, prospective Buyers may rely on this information in
deciding whether and on what terms to purchase the subject property. Seller
hereby authorizes any agent(s) representing any principal(s) in this transaction to
provide a copy of this statement to any person or entity in connection with any
actual or anticipated sale of the property.
THE FOLLOWING ARE REPRESENTATIONS MADE BY THE SELLER(S) AS
REQUIRED BY THE CITY OR COUNTY OF ___________________ AND ARE
NOT THE REPRESENTATIONS OF THE AGENT(S), IF ANY. THIS
INFORMATION IS A DISCLOSURE AND IS NOT INTENDED TO BE PART OF
ANY CONTRACT BETWEEN THE BUYER AND SELLER.
1 ______________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________

-8-