TDS Overview and Buyer Rescission Periods

Who Completes What?

Section I & II - Completed by the Seller

Section III - Completed by the Listing Agent

Section IV - Completed by the Selling Agent (Unless Dual Agency)

Section V - Signed by ALL Parties after Section III & IV Complete

Agent Review of TDS

The TDS should be reviewed prior to delivery to the buyer to address any errors or inconsistencies. The listing agent should point out any issues to the seller so corrections can be made before delivery and advise as appropriate. Agents are not required to verify the accuracy of the seller’s disclosures.

If an error or omission is discovered after delivery to the buyer, a Seller’s Amendment To Prior Disclosure must be completed and provided, which may trigger a new rescission period.

When Is the TDS Considered Complete?

Understanding the Agent Visual Inspection Requirement

TDS is considered complete only after Sections I, II, and III are completed, including the listing agent’s visual inspection. Whether the inspection is documented directly in Section III or by reference to a completed AVID, the rescission period begins only after all required sections and the inspection have been completed and delivered.

What Can Trigger a Buyer Rescission Period?

Late delivery of the TDS after contract acceptance

Incomplete Sections I, II, or III of the TDS

Missing listing agent visual inspection (Section III not completed)

Delivery of a new material disclosure or amendment after the buyer is under contract

Disclaimer: This content is provided for general educational and informational purposes only and is not intended as real estate, legal, or tax advice. Information shared is based in part on guidance and materials from C.A.R. Legal. Consult your broker, legal counsel, or other appropriate professionals regarding your specific situation.

CHRISTINE KUENEKE

Transaction Coordinator - DRE 01809365

Call or Text: 760-613-1626

Email: ck@ckpremiertcservices.com