Wednesday, 14 December 2011

Required Disclosures When Selling

!: Required Disclosures When Selling

There are certain statutory disclosures including local ordinances and federal laws that a San Fernando Valley seller and/or their San Fernando Valley Realtor must comply with and provide to the buyer, subject to certain exemptions. These disclosures are required in connection with the sale, transfer or exchange, lease with option to purchase, and ground lease of residential real estate. The following is a highlight of those disclosures:

Transfer Disclosure Statement Exempt Transactions

The Seller and all real estate agents involved in the San Fernando Valley real estate sale, transfer or exchange of 1-4 units of residential real estate must complete a transfer disclosure statement, and deliver it to the buyer. The purpose of the statement is for the seller and all Realtors involved in the transaction to disclose any material facts or defects known about the property that might influence the buyer's decision to purchase the property. It is always best to over disclose. It will help keep everyone out of court.

However, there are certain exempt transactions when a transfer disclosure statement is not required. The following is a list of those exempt transaction under California Civil Code Section 1102:

o The sale of new homes as part of a subdivision project where a public report must be delivered to the purchaser or a public report is not required. If the new homes are sold through a real estate broker and not a developer, then the real estate broker has a duty to disclose material facts which might affect the value, desirability and use of the property.
o Foreclosures.
o Court ordered transfers or sales.
o Transfers by a fiduciary of a decedent's estate, a guardianship, conservatorship, or trust, except in the case where the trustee is a former owner of the property.
o Transfers to a spouse or to children.
o Transfers resulting from a judgment of dissolution of marriage, a legal separation, or from a property settlement agreement in connection with dissolution of marriage.
o Transfers from one co-owner to another.
o Transfers by the State Controller for unclaimed property.
o Transfers resulting from failure to pay taxes.
o Transfers to or from any governmental entity.

There are two thoughts on when you should deliver the transfer disclosure statement. In order to avoid your buyer cancelling the contract after execution, you may want to give the buyer a copy of the transfer disclosure statement at the time you are negotiating the purchase and sale agreement. Other San Fernando Valley Realtors suggest that the seller deliver the transfer disclosure statement at the physical inspection.

Natural Hazards Disclosure

Unless the property is exempt from disclosure requirements, all San Fernando Valley sellers and/or their real estate agents must disclose if the property is in a natural hazards zone such as earthquake, flood or fire. The disclosure must be made on a statutory natural hazards disclosure statement. Usually, the seller hires a neutral third party who will prepare a report and complete the disclosure statement. The seller, buyer and their real estate agents must also acknowledge and sign the disclosure statement.

Property Tax Disclosures

The seller and/or their agent must give the buyer a disclosure statement about supplemental property tax reassessments and statements and whether there are any mello-roos bonds and taxes if applicable.

Homeowners Guide to Earthquake Safety

A booklet entitled "Homeowners Guide to Earthquake Safety" must be delivered to the buyer by the seller and/or their Realtor. If the buyer receives the booklet, then the seller or their agent are not required to provide any additional information, except of course if the home suffered any earthquake damage, then it must be disclosed on the transfer disclosure statement.

Lead Based Paint Hazards

Sellers and/or their real estate agents are required to deliver to the buyer a lead based paint hazards disclosure form and pamphlet entitled "Protect Your Family From Lead In Your Home," regarding any homes built prior to 1978. Buyers have an opportunity to test for lead based paint if they choose to under the purchase and sale contract. This disclosure also applies to a lease or rental.

Smoke Detector Compliance

A smoke detector compliance statement must be provided by the seller to the buyer that the property is in compliance with California law pertaining to smoke detectors. New construction requires a hard wired smoke detector with a backup battery one. For existing dwellings, the smoke detector may be battery operated.

California Environmental Hazards

The seller must disclose on the transfer disclosure statement any environmental hazards that they are aware of that affect the property such as asbestos, radon gas, lead paint, contaminated water or soil, etc. Also, if the seller or their real estate agent deliver an environmental hazards guide entitled "Environmental Hazards: A Guide for Homeowners, Buyers, Landlords, and Tenants", then they do not have to give the buyer anything additional other than any applicable disclosures on the transfer disclosure statement with regard to environmental hazards.

Mold Disclosure Form

Although not required by statute, most real estate brokerage firms recommend that the buyer be given a mold disclosure form. Typically, as part of their physical inspection, the buyer is also given the opportunity to test for mold should mold be discovered. Generally, the physical home inspector will advise the buyer if they suspect there is any mold and recommend that further mold testing be done by a mold remediation company. Not all home inspectors conduct mold inspections. It is up to the buyer to pay for the mold inspection and the physical inspection.

Structural Pest Control Inspection

State law does not require that a structural pest control inspection and certification be delivered by the seller to the buyer, unless the contract specifies or the buyer's lender requires it. Since a majority of homes in California have termites, it is recommended that a termite inspection report be given to the buyer. It is negotiable as to who pays for the report, but generally the seller does.

Energy Conservation Retrofit

There are state, federal and local ordinance laws pertaining to minimum energy conservation. This includes retrofitting for low flow toilets and showers. Your San Fernando Valley Realtor can provide you with the applicable information with regard to your Sherman Oaks, Encino, Van Nuys or North Hollywood home.

Certification Regarding Water Heater Strapping

A certification that the water heater is strapped per earthquake code regulations is required to be given to the buyer. This can be delivered to the buyer with the Homeowner's Guide to Earthquake Safety, in the Real Estate Purchase Contract or Receipt for Deposit, or with the transfer disclosure statement. It is recommended that the seller have the water heater strapped to code prior to putting the house on the market so that this is not an issue at the time of the buyer's home inspection.

Common Interest Developments

San Fernando Valley homeowners must provide buyers copies of documents governing common interest developments for townhomes, condos or homes in subdivisions if their property is located in a common development. These documents are generally provided during the escrow period.

FIRPTA (Foreign Investment in Real Estate Property Tax Act)

Federal law requires that the buyer withhold 10% of the purchase price if the seller is a foreigner. Transactions under 0,000 are exempt if the buyer intends to reside in the property.

Franchise Tax Board

In certain California real estate sale transactions, buyers must withhold 3 1/3% of the total sales prices as state income tax and deliver the sums withheld to the State Franchise Tax Board. Check with your tax adviser for exemptions.

Buyer's Right to Terminate

The buyer has the right to terminate the contract if disclosures are delivered to the buyer after the execution of the offer to purchase and sale. If the disclosures are personally delivered to the buyer, the buyer has three days from receipt to terminate. If the disclosures are delivered by mail, then the buyer has five days from receipt to terminate the contract.

Real estate disclosure laws are complicated, and sellers should consult with their San Fernando Valley Realtor or their attorney to make sure they are in compliance with all state, local and federal laws.


Required Disclosures When Selling

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Wednesday, 7 December 2011

Safety Siren Pro Series HS71512 3 Radon Gas Detector

!: Shopping Safety Siren Pro Series HS71512 3 Radon Gas Detector This instant

Brand : Pro Series | Rate : | Price : $129.95
Post Date : Dec 07, 2011 17:14:22 | Usually ships in 24 hours


Digital Continuous Radon Gas Monitoring with Home Radon Alarm Protect your family from lung cancer from radon gas exposure with the only EPA evaluated radon gas alarm, the Safety Siren Pro 3 Electronic Radon Gas Detector from Family Safety Products. As seen on TV, this is not like a single use radon test detection kit: this digital radon gas monitor for home testing is a continuous radon tester that performs continuous radon gas monitoring. The clear, easily read digital radon level display shows short-term radon levels as well as long-term radon level averages. The Safety Siren electronic radon monitor gives its first radon reading after 48 hours of radon gas sampling. Radon gas in air or water is a health hazard resulting from uranium breaking down in soil. Exposure to radon can cause lung cancer. Continuous home radon monitoring is recommended in high radon areas or when radon mitigation systems are used. Radon gas levels change according to humidity and season. See in.Radon Facts in. below the radon monitor information. Family Safety Products' Electronic Radon Meter Features: USA EPA Evaluated. Not for sale to residents of the State of Iowa nor for shipment to Iowa residents per Iowa Department of Public Health Rules, Chapters 43 (136B). Please contact the Iowa Department of Public Health at (515) 281-7689 for further information. Numeric LED radon gas detection level display range: .1 to 999.9 in pCi/L. Short and long term readings. Short-term readings: 7 day radon average. Long-term readings: radon averages since powered-up or last reset. 5-year maximum. Audible alarm if short or long-term radon gas averages are 4 pCi/L or greater. Continuously samples air . Display updates hourly. Failsafe self test: every 24 hours. Error code displays if test fails. 4 function menu button Green LED illuminates next to S (short-term) or L (long-term) display. User can manually test detector operation. Button to mute or reactivate audible alarm when unit is in alarm.

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Monday, 21 November 2011

Low Cost Geiger Counter

!: bargain sale Low Cost Geiger Counter purchase online

Brand : Quarta Radiation Monitor | Rate : | Price : $199.95
Post Date : Nov 22, 2011 05:16:11 | Usually ships in 1-2 business days


Excellent geiger counter for the money!

Designed for evaluation of ambient dosage of gamma radiation, which can be done by ordinary people in domestic environment (homes, office, food products, construction materials, soil, etc.). Also, the instrument can be used by industrial personnel, working with ionizing sources of radiation. Moreover, the instrument can detect objects, polluted by beta active radioactive nuclides.

The instrument uses a Geiger counter to detect the amount of gamma radiation within 40 sec. and indicates the values in µSv/h and µRem/h on an LCD screen. Registration of every particle is indicated by a click sound, which makes it possible to quickly determine the location of hot spots.

Incorporates the following features: audio alarm with 3 adjustable thresholds, continuous updating of readout in proportion as duration of measurement increases, display illumination, MENU in English. CE. 3 year factory wty. Radex Model RD1503.

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Thursday, 17 November 2011

Do You Want to Know What Happens at the Home Inspection?

!: Do You Want to Know What Happens at the Home Inspection?

If you are curious to know what happens at the home inspection, it is not all that complicated, although most home inspections are different, and they vary from state to state, and even within the same state, its counties and cities. In addition, home inspectors are not licensed in many states, but that does not take away from the fact that you can find very professional inspector, with lots of experience on the job.

There are things that require a specific license to inspect, so a home inspector's standard practice does not include: Rodents, mold, mildew, and fungi; wood-destroying organisms, lead, radon, methane, radiation and formaldehyde detection.

On the other hand, standard things that are checked during an average home inspection include, but are not limited to: Elements involving structural components; wall, ceiling, floor, roof and foundation construction, exterior evaluation, roof and attic, which does not include a guarantee of roof condition, or a roof certification; plumbing and system components such as the circuit breakers, main panel, wiring, grounding, exhaust fans, receptacles, ceiling fans and light fixtures. The aforementioned are among the things that you can expect during a home inspection.

It will also include appliances, dishwasher, range and oven, built-in microwaves, garbage disposal and smoke detectors, garage, including the slab, walls, ceiling, entry, vents, firewall, garage door, lights, receptacles, windows and roof.

You will get a very detailed home inspection report the report will not describe the condition of an item if it is in excellent shape. However, you should look at your report for the notes that detail serious problems with an item, or the service it may need.

Among the serious problems that you should look for are health and safety concerns, roofs that may have a short life-expectancy, furnace, heater, and/or air conditioning malfunction, foundation problems, and moisture and drainage issues, among others.

You can expect sellers to balk at having to spend large sums of money to fix every issue listed on the home inspection report. This is where your negotiating skills will come into play. You will need to decide which items you can see to fixing yourself, and which items the seller should take care of, but there are sellers who will want to sell the house as is, and they will not move off their price. You are going to have to decide whether the home is worth the price that is being asked and the cost of the repairs.

In addition, if you entrust a repair to an unmotivated seller, it is probable that the seller is going to opt for the lowest cost repair available rather than the best, and to choose the appliances that cost the least.

You are going to have to decide if you can entrust the owner to carry out any major repair, or if it would be better to try to negotiate the price again, or perhaps it would be better to walk away from the deal.

Be aware that no home is perfect, and that even new homes have issues that will turn up in an home inspection report. With this in mind, perhaps you will not be too demanding when it comes time to discuss the inspection report, and the owner may be willing to negotiate.


Do You Want to Know What Happens at the Home Inspection?

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Wednesday, 9 November 2011

Wear Protective Eye-Wear While You Work

!: Wear Protective Eye-Wear While You Work

Our sense organs allow us to experience and to be aware of our world. And one of the greatest gifts of being human is the gift of sight. It goes without saying that protecting your eyes is one of the most important things you can do in life. Our eyesight accounts for eighty percent of what we perceive through our sense organs.

Over a thousand eye injuries occur daily in the workplace, and an estimated 1.1 to 2.4 million eye injuries happen a year with 42,000 requiring hospitalization. The National Institute for Occupational Safety and Health states about 2,000 workers in the U.S. sustain job related injuries that happen each day that require medical treatment.

More eye injuries happen at home due to the misuse of garden equipment and tools, household products or tools from the workshop, with forty percent of the injuries happening in the yard or garden. According to the National Society to Prevent Blindness, over sixty percent of all product related injuries occur around and in the home.

The good news is that simply simply taking precautions and using protective eyewear can prevent ninety percent of all eye injuries. I am very active around the house and in the yard. I love to use the leaf blower, weed eater and putter around the house. However, there have been several times I have escaped injury but by grace alone. The debris and dust from using the weed eater will just irritate my eyes and a few times there have been rocks or sticks that have hit me in the head, very close to my eyes. I have even been scratched close to my eye by briars and limbs. Now, as I am getting older, I am realizing more the importance of wearing protective eyewear as I work outside. These few close calls were a wake-up call to be smart and protect my sense of vision.

Hugh R. Parry, president and CEO of Prevent Blindness America says, "All too often when we are working around the house and doing chores that we've done a thousand times before without incident, we forget about the risks we take by not protecting our eyes. But all it takes is one split second accident that could damage your vision for a lifetime."

Anytime you work in the yard or around the house, protect your eyes! Aside from being exposed to flying debris traveling at a high rate of speed, when we work in the yard, we are also at risk from fungus from the plant materials themselves that can get in the eye, and exposure to chemicals and fertilizers.

Prevent Blindness America suggests while working in the yard, to check for debris before mowing, wear safety glasses with side protection or goggles while mowing, wear safety glasses or goggles under a face shield while using a weed eater, wear goggles while working with power saws or trimmers, wear goggles to protect yourself from fertilizers, pesticides, lime dust and other yard chemicals, follow all product instructions, obey warnings on all yard chemicals and equipment, and turn off all power tools when near an unprotected by stander, especially young children.

And don't forget, 90% of all eye injuries can be avoided simply by wearing protective eyewear and taking precauitons while you work outdoors.

After all, you want to be able to see that beautiful yard of yours when you are finished.


Wear Protective Eye-Wear While You Work

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