I hope you’re having a productive weekend!
Attached is the CAR Q&A on the Transfer Disclosure Statement (TDS) that we reviewed at last Wednesday’s sales meeting. The second attachment is a blank TDS should you want to print it as well.
Please take the necessary 10-15 minutes to review the Q&A; it’s very informative and provides several “what if” scenarios that we need to know.
Remember, as agents, we are required to complete our portion (page 3,) and do a competent and complete visual inspection of the property on every residential 1-4 unit sale (this includes mobile homes). This statutory requirement can be performed on page 3 of the TDS, or(if the box is checked on page 3), on the Agent Visual Inspection Disclosure (AVID). This Q&A covers the use of both forms.
Further, always make sure that the client’s portion (Sec. I and Sec. II ) of the TDS is completed by the seller in its entirety. Any incomplete TDS should be returned immediately to the client (their associate) for completion so that the Buyer can sign for receipt of a completed form.
By Statute, a buyer cannot waive their right to receive a complete TDS.
If you ever have any problems with a client or another associate regarding their client completing a TDS, please see your manager immediately.
Thank you for taking the time, this is a very important topic.
Good luck!
