SHORT SALE DISCLOSURES

The following disclosures should be given to Buyer(s) and/or Seller(s) in a Short Sale transaction in the state of California:

1) Transfer Disclosure Statement (TDS form). Must be filled out by the Seller(s) and given to the Buyer(s) in every real estate transaction which involves residential 1-4 unit dwelling. This is the form where the Seller discloses all facts that he/she knows about the property to the Buyer.
2) Disclosure Regarding Real Estate Relationships (AD form). This form disclose of the relationships between the Agent and Principle (Buyer or Seller). The Listing Agent should give only one form to the Seller(s). The Selling Agent should give one form to the Buyer(s), and one form to the Seller(s), providing that the Buyer(s) and the Seller(s) are represented in the transaction by different Agents.
3) Lead-Based Paint Hazard Disclosures (FLD form). This should be given to the Buyer(s) by the Seller(s) if the property being purchased was built before 1978.
4) Statewide Buyer and Seller Advisory (SBSA form). This form educates the Seller(s) and the Buyer(s) about the inspection that they will have to do, California's laws, taxes, etc.
5) Water Heater and Smoke Detector Statement of Compliance (WHSD form). This form should be given by the Seller(s) to the Buyer(s), assuring the Buyer(s) that at the end of the transaction the Water Heater and the Smoke Detectors will be in compliance with the current law.
6) Seller's Affidavit of Non-Foreign Status (AS form). Should be given from the Seller(s) to the Buyer(s), stating the Seler's SSN or TIN number. If the Seller(s) does not feel comfortable to disclose this information to the Buyer(s), they can give this inormation to the Escrow company and the Escrow should issue the letter-certificate to the Buyer(s), that they received the AS form or certificate from the Seller(s).
7) Seller Property Questionnaire (SPQ form). This form should be given by the Seller(s) to the Buyer(s) to answer the questions and conditions about the property that is being transferred.
8) Natural Hazard Disclosure Statement (NHD form). This is given to the Buyer(s) by the Seller(s). All the Natural Hazards about the area where the property is located should be disclosed by the Seller(s) to the Buyer(s). If the Seller is not sure, they should hire a third party company to do the required reports.
9) Agent Visual Inspection Disclosure (AVID form). This should be given to the Buyer(s) and Seller(s) by the Real Estate Agent, disclosing any defects about the property that were found by the Agent during the inspection.
10) Short Sale Addendum (SSA form). This form should be given to Buyer(s) by the Selling Agent to sign, and should be submitted to the Seller(s) together with the purchase contract.
11) Short Sale Listing Addendum (SSL form). This should be given to the Seller(s) by the Listing Agent at the time when the listing is taken.

Ihor Pochay
REALTOR / SHORT SALE SPECIALIST
Tarbell, Realtors
Cell: (562) 334-7393
Off: (909) 629-6186 Ext. 339
Fax: (909) 629-6710
ihorpochay@tarbell.comwww.MyRealtorIhor.com