Real Estate Transfer Disclosure Statement

The real estate transfer disclosure statement, known as a TDS, requires full disclosure of the condition of the property as known to the Seller and/or observed by the agent(s).  This disclosure has a built-in 3-day right of rescission if provided after the acceptance of an offer (or 5 days from the date mailed).  When provided to the buyers prior to final acceptance of an offer, there is no such right of rescission.  Other agreed contingencies are not affected.  

Legal experts recommend that sellers provide their buyers with all information known about properties and anything that could possibly affect the buyers' decision on whether or not to make the purchase, and at what price.  If information is withheld, the sellers' retain liability beyond the close of escrow. 

Donna States
Donna States
Broker Associate
No Address Provided Torrance CA 90505