Although not just in California, these cities have adapted City Ordinances to cover vacant properties (Stockton, Sacramento, Merced, Fresno, Chula Vista, Santee, Palmdale, Murrieta, Temecula, Lake Elsinore, Hemet, Indio, Desert Hot Springs) -- and the issues related to these - foreclosed properties that are left vacant and unkept. Some of these cities require that the bank register the vacant property, however, Stockton only require that the agent put a sign on the property that states that the property is bank owned, give the agent's information and a 24 hr /7 day a week number to contact the agent if there are any problems with that property. The agent is also required to keep up the property's appearance -- especially any safety issues and the lawn.
Background: The trigger to let official know properties are possibly vacant is the filing of the NOD (Notice of Default), sometimes the homeowner or tenants have left the property around this time. These are usually people that know that the property is in trouble and headed for foreclosure but is not sure what the timeline or process is -- so they leave. In these instances a bank owner of a distressed property is required to inspect and determine if a property is vacant prior to filing the notice.
Local ordinances that are designed to address issues related vacant properties typically have one or more of a number of provisions that could be troublesome for banks and the agent they hire. These include:
· Vacant property registration
· Inspections
· Notice of Default
· Maintenance
· Fines for violation
· Liens
Some of the banks are now picking up the process of having the agent check with the city to see if it has a requirement to register vacant properties and if it does they will have the agent do that. They ask for the information for that city contact and will need that at the time the agent take over the property.
This process is good in that it is a way for the city to promote taking care of foreclosured properties and not allowing them to become a nuisance in the neighborhoods.
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Rosemary - Thanks for the information. I don't like the idea of more government, but then this would help protect values in neighborhoods of the innocent neighbors that live next to the vacant properties. Good for everyone.