Disclosures Post 3 in our 3064 Taylor Way Series

This is our third post in the series following our buyer progress on the home at 3064 Taylor Way in Costa Mesa. It is time for Disclosures Post 3 in our 3064 Taylor Way Series….So we got through the inspection on our last post, and we are now reviewing the disclosures that the seller has provided to us. Once you buy any kind of home through an agent or broker, you will receive a minimum disclosure set that is mandated by the state and the association of Realtors.

A lot of what you see will deal with natural hazards – is there a fault line close by, is there any commercial zones nearby, are you under the flight path of an airport (I think we would have already known 🙂 ), are there any protected species nearby (Seriously- I have seen protected tree frogs in disclosures before), and any other environmental hazards around this part of Costa Mesa.

We passed this part with no worries- the home only comes into the “influence” of John Wayne airport (within 5 miles), which if you travel is a huge advantage to be this close to the airport.

Then the seller will go through what is a general rundown of the property- what is present, what is working, or not working, age of items, and any other items that might have a significant concern on the value of the property. Generally, the most popular in local circles are “did someone die here?”, “Is the foundation cracked”, “Were repairs/improvements made without permits?”. I like to focus on the expensive stuff- if there are defects the seller is aware of, how much will those repairs cost? Obviously a burned out light bulb is an easy fix!

With a short sale, there is no equity left in the home, and on Taylor Way there were a couple little items that needed fixing. Normally in a standard sale we would ask the owner for repairs but all short sales are AS-IS.

I always read the title reports- it is important to know what other little items effect the property. There can be all sorts of other things that come into play on a property. If a seller had done work on a property and never paid a contractor, a contractor could put a lien on the home. If a tax was never paid to a city, state or governmental agency, they could put a tax on the property. Any lien on a home could potentially stall a sale until there is resolution.

When you are looking for someone in Costa Mesa to help you find a house, be sure they are with you every step of the way. A good Realtor is complete- while getting a challenging offer accepted is a big part of the puzzle as our first post read, the middle of the escrow is really the most critical. Don’t let your agent pawn it off to an assistant, it is really crucial.

Looking for a good Costa Mesa real estate agent? Connect with Colin Delaney at (714) 743-9882 or by email.