Know Your CA Real Estate Your Rights and Responsibilities

Laws aren't exactly the highlight of a home purchase, but they no doubt play a big part in it. Real estate laws vary by state, and as a buyer, it's important to know your rights and responsibilities in the deal.

This article offers a rough guide to real estate laws in California and what they can mean for you.

1) Choosing your agent
In California, you have the right to choose which people to work with, from your lender and real estate agent to lawyers and home inspection companies. When it comes to choosing Laguna Beach real estate agentsagents, you can also ask about the agent's relationship with the seller and other parties involved. Real estate agents are usually required to give this information upon first contact.

2) Making your offer
When making or receiving offers, you can use the Residential Purchase Agreement (RPA-CA) issued by the state. This way, you and the selling party are bound under the same rules and are expected to follow them. You can also demand a copy of everything you sign. Likewise, the law requires you to comply when the seller requests copies of your purchase documents as well.

3) Accepting or refusing a home
Even after accepting an offer, you have the right to refuse it based on its physical conditions and local environment. The RPA-CA contract gives you 17 days after signing to approve or disapprove a property, unless a different time frame is stated. Your real estate agent can help you determine a good time frame for going over the inspection and deciding whether or not to accept.

4) Inspections and warranties
Most real estate laws require a professional home inspection prior to the purchase. In California, buyers can conduct further tests (usually at their expense) to look into structural and environmental elements which may not be included in the standard inspection.

5) Negotiating for repairs
Buyers have the right to negotiate for repairs or request credit to fund them, whether it's a new construction, a resale, or even an "as is" purchase. Most contracts give you a specific time frame for requesting repairs after having conducted an inspection. Your real estate agent can provide you with an official repair request form, or you can download a printable file from the state website.

6) Moving in
California buyers have the right to move in as soon as the documents have been recorded and all the contractual obligations are fulfilled. You can also request delayed closing and accept calls even after escrow hours. Likewise, you can walk away from a home you are in escrow with, although this often entails legal and financial risks.

Writer of the post Andy Williams, one of Orange County's most successful and respected agents, realized his passion for real estate at a young age and obtained his real estate sales license at the age of 20 while attending college at California State University Long Beach. For five years he managed numerous commercial developments from start to finish. He regularly writes about Real estate related issues. His ideas and analysis on real estate are based upon years of practice. If you are looking for more information, visit:
"Homes Laguna Beach CA"