Understand the legal aspects of selling your home to protect yourself from potential legal disputes and financial losses. This helps you make decisions that align with both California law and your own best interests, all while saving you a lot of potential headache. Here’s what you need to know:

Disclosure Requirements

In California, sellers are required to fill out a Transfer Disclosure Statement (TDS) that outlines the condition of the property. The disclosure includes any known defects, past repairs, and issues that could affect the property’s value or safety.

Consult with your real estate agent to ensure that you’ve properly filled out all necessary forms. When in doubt, disclose rather than withhold information.

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Important for Sellers

Failure to disclose can lead to legal repercussions, including the buyer rescinding their offer or even suing for damages.

Escrow Process

The escrow process in San Jose involves a neutral third party, usually an escrow company, that holds the buyer’s deposit and manages the distribution of funds during the closing process. This protects buyers by ensuring that the property title is clear and that funds are only transferred when all contractual conditions have been met.

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Important for Sellers

Ensure that you understand the terms and conditions outlined in the escrow instructions. Being proactive in meeting all contingencies can expedite the escrow process without deviating and delay the closing process.

Real Estate Attorney

While not mandatory in California, a real estate attorney can offer specialized legal advice that a real estate agent can’t provide, especially for complex transactions.

If your transaction involves complex legal issues, consult with your real estate agent about the benefits of hiring an attorney. Research and interview multiple attorneys to find one that fits your needs.

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Important for Sellers

Choose an attorney who specializes in real estate law and has experience with San Jose property transactions. Their expertise can save you from potential legal complications.