Page 10 - Purchase Contract Guide Book Title Alliance Professionals

Title And Escrow

Lines 133-142: Seller is to disclose all Homeowners Associations, using the HOA Adden-
dum. It is the sole responsibility of the seller to provide the Affidavit of Disclosure. See Lines
183-186 for further explanation of Affidavit of Disclosure.

Lines 144-148: Buyer and seller agree to hold harmless escrow/title company relating to the
release of the earnest money

Lines 152-153: All assessment lien fees, bonds, water districts, special taxing district and
community facility districts shall be pro-rated to the close of escrow.

Section 4 - Disclosures

Lines 154-161: Seller to provide a “SPDS” form within 3 days and an insurance claim

history within 5 days of contract acceptance, to the buyer.

Lines 162-166: FIRPTA requires that a foreign seller may have federal income taxes up
to 15% of the purchase price withheld, unless an exception applies. Seller is responsible for
obtaining legal tax advice.

Lines 167-182: Information regarding lead based paint on property. If property was

built before 1978 seller shall notify buyer and provide a lead based paint disclosure within 5
days of accepting contract. Take note of the delivery response times. Buyers initials
required.

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