Disclosures on Relocation Transactions

Disclosures on Relocation Transactions

Relocation Transactions are different from most transactions in several ways.

1. The Seller may change from the current owner to the Relocation Company.
2. During the escrow, the property will be sold to the Relocation Company by the current owners, and the Seller that deals with the Buyer will be the Relocation Company.
3. This may require two sets of statutory & other disclosures.
   1. Disclosures from the original Seller to the Relocation Company
   2. Disclosures from the Relocation Company to the Buyer. Generally, there will be a stamp indicating that the Relocation Company is making no disclosures as they have never occupied the property.
4. How to handle these two sets of disclosures.
   1. Disclosures from the original Seller to the Relocation Company. Buyer should initial receipt and/or sign these disclosures as they will actually have disclosure information on them
   2. Disclosures from the Relocation Company to the Buyer. Generally, there will be a stamp indicating that the Relocation Company is making no disclosures as they have never occupied the property. Buyer should also sign these disclosures as well.