Is Seller property Questionnaire required?

Is Seller property Questionnaire required?

This contract requires you to fill out the Seller Property Questionnaire (SPQ) when you are required to fill out the Real Estate Transfer Disclosure Statement (TDS). For more residential sales, you will be required to fill out the TDS by law, though there are exceptions. The SPQ protects you, the seller.

Is a Seller property questionnaire required in California?

A: Yes, sellers of residential real property with one-to-four units are required by California law (unless exempt) to provide a buyer with a specified property disclosure form for the purpose of disclosing material information affecting the value or desirability of the property which may influence a buyer’s decision to …

What is a Spq in real estate?

The SPQ is a continuation of the Real Estate Transfer Disclosure Statement. It is a multi-page form filled with yes or no questions covering a variety of topics. If you answer “yes” to a question, the form has room for an explanation.

What is a Seller questionnaire?

(C.A.R. Form SPQ, Revised 11/09) This form is not a substitute for the Real Estate Transfer Disclosure Statement (TDS). It is used by the Seller to provide additional information when a TDS is completed or when no TDS is required.

What is an exempt seller disclosure?

Exempt Sellers include: (d) Sales or transfers by a fiduciary in the course of the administration of a trust, guardianship, conservatorship, or decedent’s estate. on the ESD requires Exempt Seller to disclose “Material facts or defects affecting he Property not otherwise disclosed to Buyer.” Question 4. A.

Is the Sbsa required?

Answer: Some agents and brokers may choose to use this form. However, the California Association of Realtors® has incorporated this advisory into the Statewide Buyer and Seller Advisory (SBSA)–a required form. As such, the SPT is not required.

Who is exempt from a transfer disclosure statement?

Other exemptions from of the TDS include transfers from one co-owner to another, transfers made to a spouse or child, grandchild, parent, grandparent or other direct ancestor or descendent; transfers between spouses in connection with dissolution of marriage, and various transfers to the state for failure to pay …

What is meant by SPQ?

SPQ. Standard Pack Quantity. SPQ. Special Pricing Quotation. showing only Business & Finance definitions (show all 17 definitions)

What is a seller lead sheet?

What is a lead sheet? It’s a document that contains realtor questions for sellers. These guiding questions allow you to stay in control of the conversation on the phone. Asking questions as a real estate agent helps you come from a place of curiosity.

What is the exempt seller disclosure?

Why are sellers exempt from disclosure?

Let’s discuss. When is a seller exempt from providing a seller’s disclosure? Another seller hadn’t even lived in the property they were selling; it was an investment property and they didn’t have enough first-hand knowledge of the property’s history to provide a disclosure.

Does a seller have to disclose foundation issues?

No matter which way you roll you’ll need to fully disclose, in writing, the issue and any works you undertook to repair it.