Disclosure in Real Estate

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Disclose, Red Flag

After the Easton vs. Strassburger decision, brokers in a transaction are required to make a reasonably competent and diligent visual inspection of the property and _______________ to a buyer all facts martially affecting the value or desirability of the property that such an investigation would reveal. _________ items should be noted and disclosed.

Transfer Disclosure Statement

Because of the Easton vs. Strassburger decision sellerss and agents are required to provide to a buyer a __________________ concerning the condition of the property.

As Is

A transfer disclosure statement must be provided to the buyer of residential property (1-4 units) even when the property is sold ___________.

Divorce, Court Order, Probate

A transfer disclosure statement need not be provided in the case of a transfer between spouses due to ______________, transfer due to _______________, or ________________.

2 Years

If a defective transfer disclosure statement is delivered to a buyer, the buyer has ____________ to seek damages.

Seller

Regarding a Mello-Roos Assessment, the _______________ must make a good faith effort to obtain from the Community Facilities District a notice concerning the special tax and give the notice to a prospective buyer.

1978

The federal Real Estate Disclosure and Notification Rule requires that owners of residential dwellings built before ___________ disclose to their agents and prospective buyers the presences of lead-based paint.

Assuming they have no awareness

If a seller provides a buyer with the pamphlet, "Environmental Hazards: A Guide for Homeowners, Buyers, Landlords, and Tenants," neither seller nor agent is required to say more about environmental hazards, ________________ of anything specific.

Earthquake Fault Zone

Because of the Alquist-Priolo Earthquake Fault Zoning Act, the seller and agent must disclose to the buyer that the property is or may be situated in an ______________________.

One-Quarter Mile Wide

Earthquake fault likes on designated maps are ___________________.

Earthquake Fault Zones

The Natural Hazards Zone Disclosure Statement will include information about _______________.

1/1/1960 , 1/1/1975

The delivery of the booklet, "Homeowner's Guide to Earthquake Safety" is required on the transfer of a residential dwelling built prior to ____________ of conventional light frame construction and a masonry building with wood-fram floor or roof built before ______________.

Must be disclosed

Potential for flooding is a legitimate concern and ______________ to all potential buyers of residential property.

FEMA

Flood Hazard and Boundary Maps are provided by ______________.

Frequent Flooding

Flooding that occurs more than once in 10 years is considered ____________.

Special Flood Zone Area

If an area is within a 100-year flood boundary, it is called a _______________________.

Moderate Flood Hazard

If an area is between a 100 and 500-year flood boundary, it is called an area of __________________.

Minimal Risk

If an area is above a 500-year flood boundary, it is called an area of ____________________.

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