Disclosures provide information on known issues with a property and other historical details.
These are completed by sellers and real estate agents and given to buyers in the California Association of Realtors® documents: Transfer Disclosure Statement (TDS), Seller Property Questionnaire (if provided) and the Agent Visual Inspection Disclosure (AVID) forms.
Delivery and receipt of the seller’s and agents’ disclosures at the outset of the buyer’s inspection contingency period can greatly assist a buyer’s duty to exercise reasonable care to protect himself or herself and conduct thorough investigations of the property both personally and with appropriate professionals.
As a seller you can help the buyer know the condition of the property they are purchasing from you to mitigate unknown or undisclosed issues coming back to you after close of escrow.
Issues and repairs noted in the disclosures (the TDS / Seller Property Questionnaire) should be brought to the inspector’s attention and discussed at the inspection to investigate the areas or items further as needed.
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