If I can help you find the perfect Napa Valley property, please email me
Maintaining Vacant REO (bank owned) Properties:
An existing law requiring an owner of vacant residential property acquired through foreclosure to maintain the exterior of the property, was originally set to expire on January 1, 2013, but has now been extended indefinitely. To prevent blighted neighborhoods, this law allows a governmental entity to impose a fine up to $1,000 per day for any violation. Violations of this law include allowing excessive foliage growth that diminishes the value of surrounding properties, failing to take action against trespassers or squatters, failing to prevent mosquitoes from breeding in standing water, and other public nuisances.
This new law, which is part of the California Homeowner Bill of Rights, also gives a buyer of residential property foreclosed after 2007 an opportunity to correct substandard conditions. Starting January 1, 2013, if that buyer has purchased and is in the process of diligently abating any building standard violations, an enforcement agency cannot commence any action or proceeding for nuisance abatement for at least 60 days after the buyer takes title to the property, unless a shorter period is deemed necessary to prevent an immediate threat to health and safety.
Also commencing January 1, 2013, any mortgage lender who releases a lien from a property with a recorded notice of pendency of action must notify the enforcement agency that issued the order within 30 days of releasing the lien. Source: AB 2314.
Thank you for reading this post. If I can ever be of help in finding you the perfect property here in the Napa Valley, please email me at Curtis@NapaValleyAddress.com
Your Napa Valley Broker Extraordinaire, selling Real Estate here from its heart, Yountville
My website & blog: www.NapaValleyAddress.com