February 2016 – Page 4

It remains the quickest, easiest way to find more character while paying much less property tax. While Downtown Los Angeles has the largest collection of Mills Act properties in Los Angeles, areas such as Pasadena, Hollywood and other Los Angeles neighborhoods also have some beautiful historic Mills Act condos for sale.

Mills Act Condos and Lofts – Get the PDF list of today’s Mills Act historic buildings with homes for sale. CLICK HERE. >> MORE

Get more information on Mills Act historic properties. Fill out the online form:

<a href="https://laloft.wufoo.com/forms/ze1qfwn1rrhoda/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Your Home Sold GUARANTEED or I’ll Buy It*

Corey Chambers, REALTOR®
(213) 880-9910
coreychambers@yahoo.com
http://www.laloftblog.com/

Your Referrals Help the Kids. For every referral I receive, I donate a portion to the Children’s Hospital Los Angeles. With your referrals, you are helping Children’s Hospital ensure that critical life-saving care is available to every child they treat. http://www.ReferralsHelpKids.com

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 Not associated with the homeowner’s association, seller or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

Based on information from the Association of REALTORS®/Multiple Listing as of [date the AOR/MLS data was obtained] and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

*seller and Corey must agree on price and time of possession – details and conditions visit coreychambers.com

Historic Core Downtown LA Lofts for Sale and Lease — Historic Core Neighborhood Downtown L.A.

Loft Inspection Traps and Pitfalls – Agent Visual Inspections and Seller Disclosures

In addition to arranging the buyer’s optional inspection by a professional inspector, the seller and agents each have legal obligations to perform an individual inspection of the property.

When buying or selling a home anywhere in California, sellers and real estate agents are required by law to take a look around and to disclose to the buyer all known material facts and observations that may affect the value or desirability of the home. These days, that is often done by the seller using the Transfer Disclosure Statement, and also done by the agents on the Agent Visual Inspection Disclosure.

Some sellers have occasionally been known to purposely try to hire an out-of-town agent when the seller knows that the building or unit has some kind of problem that the seller would really rather not disclose. This strategy is not likely to work for the seller because most agents will take the time to familiarize themselves with all of the issues of the property so that they will be prepared to handle any objections or questions by prospective buyers. The agent is required to write down all of the issues that they see or know about.

One current example is the Notice of Claim and possible future litigation at Alta Lofts. This is in the gray area because no lawsuit has been filed but the sellers know that a lawsuit may be pending that could potentially affect the value and desirability of the loft condo units. Most sellers and agents will find that information to be material, and thus they are likely to disclose it to the buyer in writing.

The items in an agent’s visual inspection are unlikely to raise a red flag. The AVID form is a disclosure, and is not created by a licensed inspection professional. Nevertheless, some sellers want to at least be sure that their agent does not list items that could be immaterial from the California Association of Realtors(R) AVID Agent Visual Inspection Disclosure form. The seller can let the agent know specifically if the seller believes that any items are not appropriate or material.

For a smooth transaction, buyers and sellers should generally sign most disclosure forms because a disclosure is simply sharing information. When a seller does not sign a common form, it has a substantial likelihood of raising a red flag for the buyer’s agent and the buyer. Failing to complete a common disclosure has a chance of jeopardizing the transaction, and may increase the liability of the seller. It is recommended that sellers consult with an attorney if they have legal questions about the AVID form and California disclosure law.

LOFT & CONDO LISTINGS DOWNTOWN L.A. [MAP]