Fill out an official California residential purchase agreement here: [ Ссылка ]
The residential purchase agreement is the single most important document when you’re buying a home. Legally binding once signed by the buyer and the seller, it outlines the offer amount, closing date, financing, and any other important terms and conditions for the transaction.
In this video we’ll cover:
How a residential purchase agreement works
Legal requirements in California
Whether the buyer or seller can back out of a purchase agreement
What should be included
In California, the seller is required to make a number of disclosures about the property, and if they don’t, the buyer is legally allowed to terminate their offer within three to five days. (CC § 1102.3)
Required disclosures:
CC § 2079.7 – Environmental hazards
CC § 2079.8, CC § 2079.9 – Earthquake safety
PC § 290.46 – Megan’s Law (sex offender proximity)
CC § 1103.1 – Natural hazard
CC § 1102.6c – Real estate tax
CC § 1102 – Material condition
HSC § 13113.8 – Water heater and smoke detector
CC § 1101.4 – Water-conserving fixture
BPC § 8516 – Wood destroying pests and organisms
DISCLAIMER:
This video is strictly for educational purposes and is in no way intended to provide legal advice. We do not make any warranties about the completeness, reliability, and accuracy of this information. Any action you take upon the information on this video is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of our videos.
#residentialpurchaseagreement #rpa
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0:00 Intro:
0:22 We'll Discuss:
0:41 How Does Residential Purchase Agreement Work:
1:26 Required Disclosures:
1:48 Can Buyer Or Seller Pull Out:
1:59 Contingencies Are Not Met:
2:32 Contingencies Are Met, But Buyer Still Wants To Terminate:
3:01 What Should Be Included:
3:08 Include A Mortgage Pre-Approval Letter:
3:22 Offer An Earnest Money Deposit:
3:34 Use An Addendum to Modify Or Add To The Agreement:
