Legal Question in Real Estate Law in California

Re: breaking contract

You need to review your contract to purchase the home. The Transfer Disclosure Statement is required by law, and must be provided. Even if the requirement for a TDS is not in your contract, you can make the argument that failure to provide one is grounds for cancellation of the purchase contract. The walk-through, however, is a contract condition, and not required by law. If the contract does not expressly provide that your acceptance of a walk-through is a condition of close of the escrow, then you have no right to cancel based solely on that. Why isn't Transfer Disclosure Statement available? Is this a foreclosure purchase? If so, the lender is statutorily exempt from providing the TDS. Otherwise, there is no reason for the seller not to give you one. Its a simple form they fill out!

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