Escondido Transaction Coordinator
If you are an Escondido real estate agent or an Escondido Realtor® and you are working with an Escondido Transaction Coordinator, you may come across situations where you are discussing the Seller Property Questionnaire (SPQ).
If you are a residential agent in Escondido and you are working with an Escondido Transaction Coordinator, then you do know that your client has to disclose all material facts. On residential properties, this is generally done on the SPQ and the TDS.
So, it begs to reason, that people ask the Escondido Transaction Coordinator, “Should I use both? What’s the difference between the two forms?”
According to the California Association of Realtors® Summary Disclosure Chart for 2013, these forms should be used to disclose material facts, such as a Meth-Lab Clean-up Order, a death, an infestation, and a Military Ordnance Location.
- With respect to materials facts, the document states, “A seller (transferor) or real estate agent involved in the transaction must disclose any known material facts that affect the value or desirability or the property. Whether or not something is deemed material is determined by case law.”
- With respect to the Meth Lab Clean-up Order, the document states, “In the event that toxic contamination by an illegal controlled substance has occurred on a property and upon receipt of a clean-up order from the Dept. of Toxic Substances Control (DTSC) or a Local Health Officer, the transferor must provide a copy of this order to the transferee…”
- With respect to Military Ordnance Location, the document states, “Disclosure is required when the transferor/lessor has actual knowledge that a former military ordnance location (military training grounds which may contain explosives) is within one mile of the property. The transferor/lessor must disclose in writing to the transferee/lessee, that these former federal or state military ordnance locations may contain potentially explosive munitions…”
If you need help getting those forms together for your next real estate transaction, feel free to contact your Escondido Transaction Coordinator at Transaction 911.