Updated May 22, 2022
A California residential purchase and sale agreement is a contract between a buyer that agrees to purchase real estate from a seller for an agreed-upon sales price. All terms and contingencies related to the sale must be included in the same agreement.
At the time of purchase, an earnest money deposit is commonly required by the buyer that is held in a trust account until the closing (or if the agreement terminates).
Other Versions (2)
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Disclosures (12)
Environmental Hazards Pamphlet (CC § 2079.7) – The buyer must receive a copy.
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Death on Premises (CC § 1710.2) – A landlord must disclose to a prospective buyer if a death occurred in the unit less than three years before the buyer offers to purchase the unit. This shall not apply if a previous occupant had HIV or died from AIDS-related complications.
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Homeowner’s Guide to Earthquake Safety (CC § 2079.8, CC § 2079.9) – Required to be given to the buyer.
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Lead-Based Paint Disclosure – Must accompany any purchase agreement about the sale of a property built before 1978.
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Local Option Real Estate Transfer Statement (CC § 1102.6a) – Only complete if local jurisdiction requires it.
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Megan’s Law (PEN § 290)- The buyer must be provided with the necessary information to search the surrounding area for sex offenders.
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Natural Hazard Disclosure Statement (CC § 1103.1) – Seller must complete if the property is near any natural hazardous area.
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Real Estate Tax Disclosure (CC § 1102.6c) – The following must be included in a lease agreement in 12-point font and a 14-point font title:
Notice of Your ‘Supplemental’ Property Tax Bill
California property tax law requires the Assessor to revalue real property at the time the ownership of the property changes. Because of this law, you may receive one or two supplemental tax bills, depending on when your loan closes.
The supplemental tax bills are not mailed to your lender. If you have arranged for your property tax payments to be paid through an impound account, the supplemental tax bills will not be paid by your lender. It is your responsibility to pay these supplemental bills directly to the Tax Collector. If you have any question concerning this matter, please call your local Tax Collector’s Office.
Transfer Disclosure Statement (TDS) (CC § 1102) – Specific form required by law to be completed by the seller of a residential property.
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Water Heater and Smoke Detector Compliance (HSC § 13113.8) – To inform a buyer that the smoke detector and water heater comply with State law.
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Water-Conserving Fixtures and Detector Notice (CC § 1101.4) – To inform the buyer about water-conserving fixtures that need to be replaced in new construction and the status of carbon monoxide detectors.
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Wood Destroying Pests and Organisms Inspection Report (BPC § 8516) – To be given to the buyer after the inspection is complete.
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Commercial Property
Commercial Purchase Agreement – Use this agreement to buy or sell commercial property.
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