Existing law requires that specified disclosures be made upon any transfer by sale, exchange, real property sales contract, lease with an option to purchase, any other option to purchase, or ground lease coupled with improvements, of any single-family residential property. Existing law, after July 1, 2022, requires that every contract for the sale of single-family residential real property contain a notice stating that any appraisal of the property is required to be unbiased, objective, and not influenced by improper or illegal considerations.
This bill would require a seller of a single-family residential property who sells that single-family residential property to a buyer within 18 months of purchasing that single-family residential property to disclose to the buyer specified information, including any room additions, structural
modifications, other alterations, or repairs made to the property since the seller purchased the property that were performed by a licensed contractor and the name of each licensed contractor with whom the seller entered into a contract with for the room additions, structural modifications, other alterations, or repairs, as specified. The bill would alternatively authorize a seller to satisfy these obligations by providing a list of room additions, structural modifications, other alterations, or repairs performed by, and provided by, the licensed contractor with whom the seller contracted for the room additions, structural modifications, other alterations, or repairs. The bill would require the seller to provide a copy of any permit for any room additions,
structural modifications, other alterations, or repairs to the buyer or, if the seller contracted with a third party and was not provided with a copy of the permits, by informing the buyer that information on permits may be obtained from a third party and providing the third party’s contact information. The bill would specify that these provisions apply to the sale of a single-family residential property where the seller and buyer enter into a contract or agreement for the property on or after July 1, 2024.