NHD and REO Clarification
Although CAR's Natural Hazard Disclosure form is not REQUIRED to be completed by an Asset Manager, the seller is STILL obligated to disclose if the property is located in a high fire, flood and earthquake zone. This is best completed by ordering and paying for a Natural Hazard Disclosure report prepared by a neutral third party.
CAR recommends that if a report is not available the NHD be incorporated into disclosures for the property.
BTW it's not California Association of REALTORS® who decides what disclosures are required. It's the California Department of Real Estate who passes laws. CAR helps us understand the requirements and also offer recommendations from their attorneys and other specialists. Who Knew?!
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