Making an offer or going into contract on a property in California, and especially in San Francisco, your first major document review will be of the (sometimes an inch thick) property
"disclosures". Some listing agents will request a signed disclosure package be submitted with the offer; in any event the signed document is often due quite early in the contingency period.
In the rush of putting in an offer, it is easy to skim this dense document without really comprehending what's in it. Fear not! This is one place your agent can really offer value, helping you to filter the truly property specific information from what is boiler plate legalese, so you'll know what is really important to understand before you commit to a contract and start spending money on inspections.
Of most relevance to this blogger, as your earth based realtor, is the
Standardized Natural Hazard Disclosure Report, which details the possible risk of floods, fires, earthquakes, liquifaction, and landslides occurring at the property. At the risk of sending you to a competitor, here's a
link to a nice summary of how to review the Natural Hazards report. When a property is listed, the agent orders this report from one of several companies that search the hazard maps and lists the hazards that are potential issues with that specific property. Also, there is the
Combined Hazards Book, which you'll need to review and sign off on during escrow.
If you are the kind of person who likes to educate yourself ahead of time, you can look at hazard maps yourself (see links in my past posts re:
slope and
extreme weather and also in the resource bar) for the areas you are considering. Ponder your level of comfort with various environmental risks, do a little insurance research, and you'll feel more prepared to make an informed purchase.
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