Easily Replace Alternative Choice from the Home Seller Form

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How to Replace Alternative Choice from the Home Seller Form

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hey everybody this is Chris from homes in 719 and I thought Id do a video today for primarily for the seller but a buyer will definitely get some value out of this video as Im going to go over a form thats used in Colorado called the sellers property disclosure form and while that doesnt sound very exciting it is a very important form where the seller is required to inform the buyer of all of the latent defects that um and or other defects that are present in the property so that the buyer has a clear picture of the asset that theyre buying so here in a second Im going to share my screen Im going to walk you through the 2023 version of this forum and I say that because the form does change pretty regularly as the state of Colorado who creates it tries to make it better and clearer for the consumer um so if its not 2023 you might check and see if theres a 20 uh 2024 or whatever year it might be when youre watching this so let me share my screen here and were going to roll th

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What is the statute of limitations for Civil Code 2079?

The statute of limitations for actions for bdocHub of this duty is found in Civil Code 2079.4, which is 2 years, starting from the date of possession of the property, the date of recordation, close of escrow or occupancy, whichever occurs first.

What is Form 593 used for?

Purpose. Use Form 593: docHub the seller/transferor qualifies for a full, partial, or no withholding exemption. Estimate the amount of the sellers/transferors loss or zero gain for withholding purposes and to calculate an alternative withholding calculation amount.

Who needs to file Form 593?

Any person who withheld on the sale or transfer of California real property during the calendar month must file Form 593 to report, and Form 593-V to remit the amount withheld. Normally, this will be the title company, escrow company, intermediary, or accommodator.

What does the California Civil Code apply?

The Civil Code of California is a collection of statutes for the State of California. The code is made up of statutes which govern the general obligations and rights of persons within the jurisdiction of California.

What is a substituted disclosure?

What is a substituted disclosure? A substituted disclosure is a disclosure that is intended to satisfy the disclosure obligations on [the TDS form], where the subject matter is the same. Section I specifically mentions a Natural Hazard Disclosure (NHD) Report.

What does California Civil Code 2079 does not require quizlet?

California Civil Code 2079 does NOT require: that agency disclosure forms be provided in raw land and business opportunity transactions.

What does California Civil Code 2079 require?

Under California Civil Code Section 2079, a sellers agent must (a) conduct a reasonably competent and diligent visual inspection of the property and (b) disclose to the prospective buyer all facts materially affecting the value or desirability of the property that an inspection would reveal. (Cal. Civ.

What does the Civil Code 2079 not require in California?

California Civil Code 2079 only establishes the selling brokers duty to inspect and disclose- the code does not apply to buyers broker.

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