Review of the Natural Hazard Disclosure Statement and Disclosure Report Used in The natural hazard disclosure report is another important disclosure document for both the buyer and seller of It is important that all parties review this information closely as there may be conditions or regulations affecting the subject property which may have been previously unknown to the participants of a transaction and may affect a property´s value or desirability. This report may contain information that will require further investigation, inspection and possible mitigation prior to the close of escrow. The natural hazard disclosure report contains summary information on a number of physical factors that can impact a property such as: earthquake fault zone, fault activity, flood hazard zone, wildland fire area and very high fire severity zone, landslide inventory report, liquefaction susceptibility, flood and inundation hazards, Mello-Roos facilities, military ordinance facilities, land conservation determination, industrial use areas, database disclosure, right to farm disclosure, naturally occurring asbestos, airport facility disclosure, critical habitat determination, radon gas determination, special tax assessments, notice of supplemental tax bill, notice of duct sealing requirements and notice of methamphetamine contamination. The following handout reports are included as well: environmental hazards handouts, earthquake safety handouts, earthquake hazards report and lead based paint handout. The earthquake fault zone and fault activity information references state maps. Note that the state may not have researched and mapped all residential areas. Should any questions or concerns come to mind it is best to contact a qualified geologist for interpretation and explanation. The reports on flood hazards, wildland fire areas, landslide potential, liquefaction susceptibility, flood and inundation, naturally occurring asbestos and radon gas are derived from historical data compiled by the state and their respective geological agencies. Typically activity related to these hazards has been compiled over a long term observation of conditions and factors that relate to these challenges. Again, consulting with a qualified geologist would provide you with the best answers to any concerns. A classification of a property being included in a Mello-Roos community facility or part of a special assessment would indicate that the property in question has a bond assessment or special tax assigned to the property usually to cover the expense of community improvements. If such an assessment is indicated you may want to contact the local community district for more information. The disclosures for military ordinance, land conservation, industrial use, right to farm and airport vicinity all address surrounding property use issues that may impact the subject property. Typically the buyer should satisfy themselves to the extent to which any of these conditions affect the subject property before the close of escrow. Another disclosure that may be considered as having an impact on property values is the database disclosure compiled by the state of registered sex offenders as required by Megan´s Law. Other ancillary disclosures include the identification of habitats of endangered species, the property´s status with the tax collector and possible issuance of a supplemental tax bill, energy requirements for sealing the duct work of your heating system and notification if the property was ever impacted by hazardous chemicals used in the production of methamphetamine. |