New Statutory Disclosures Regarding Water Intrusion

REALTOR® Outlook

By Kay Wilson-Bolton

February 19, 2007

Countries around the world languish for lack of water, but water in the wrong places can be problematic and require special disclosure and attention.

One of the latest disclosure forms that affords homeowners the opportunity to clearly state whether or not there has been “water intrusion” or a claim for water damage.  It is called “Seller Property Questionnaire.” While it is not a statutory form, it is one of the most helpful.

This is not only an opportunity to do the right thing, it is also the only opportunity a buyer may have to do the very inspection that will save time and trouble later on.

Answering this question either way has consequences. Answering it truthfully could impact the buyer’s ability to obtain insurance. The false answer could lead to devastating circumstances down the road should mold or signs of it become apparent.

There is also no substitute for knowing the neighborhood when it comes to buying a home. In the not too distant past, it was common for real estate agents to stick close to their local spheres of influence in listing or selling homes.

Our new technology affords real estate agents the opportunity to work in any city in California, but it comes increasingly clear that an agent working too far from home can cause a disservice to his/her clients if they don’t know the neighborhood.

The Internet technology is so advanced that one could actually choose and purchase a home long distance–with one exception, and that is that the house needs to have a REALTOR® open the door.

Every city has its unique features: water sources and will-serve letters, hillsides, landfills, airports, traffic, trees and homeowners’ association characteristics, underground springs, and propensity for flooding

The subtleties of an area have become increasingly important, such as a past lawsuit involving a homeowners association, the chart for growth in and around a city, the class action suit towards a builder for faulty plumbing in a particular tract.

The local REALTOR® knows the lay of the land and where to go for information.

Likewise, if you are from a distant city and want the best representation, contact a local real estate company that displays the Blue “R” which stands for REALTOR®.

 

Kay Wilson-Bolton is the owner and broker of CENTURY 21 Buena Vista and CENTURY 21 Ability.  She brings a regional perspective to local issues.  She can be reached at 340.5025. Her website is http://www.readysetkay.com

 

 

 

 

 

 

About Kay Wilson-Boltonhttp://www.kaywilsonbolton.netWith a full-time career in real estate, I can add to your bank of knowledge, not only in real estate but in many areas of life that deal with people and relationships and choices. My real estate career has taught me many lessons about planning ahead and looking forward. I believe in helping along the way so that they can be the best they can be in any situation. I serve as a Fire Department Chaplain and Coordinator for the Many Meals Project which serves homeless and hungry families in my community. The event is far more than many meals. I make pastoral visits to the inmates in the County Jail System and offer them what God says about "all things being new" and His remarkable plan for our lives. I have served my community as Mayor and in many volunteer capacities. I serve others by serving God first. My husband is involved in prison ministry and is a graphic artist. We live a simple life in Santa Paula with an office cat named Scout, three rescued poodles and two cats at home.

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