As a seller it is imperative to reference Report 9 or Report of Residential Property Records (RPR). Section 96.300 requires that the seller of Residential Property within the City of Los Angeles apply to the City for the Report of Residential Property Records and Pending Special Assessment Liens. Upon entering into an agreement of sale or exchange, or before the close of escrow the seller must ensure specific adherence and codes relating to: Water
Conservation Devices, Security Lighting and Locks, Seismic Gas Shut-off Valves, Metal Bars, Grills, etc.,Smoke & Carbon Monoxide Detectors, and Impact Glazing.
Amidst the extensive forms and documents you will encounter in your buying or selling process, you will find retrofit requirements prior to closing. Either seller or buyer can reference the
Escrow Company’s Addendum To Residential
Purchase Agreement. In the contents of the
agreement search for the Mandatory Government Retrofit Items: Water Conservation Certificate Of Compliance, Impact Hazard Glazing, Smoke Detector/Water heater Compliance, and Gas Shut-off Valve Ordinance; all which require verified compliance by a licensed expert and issuance of a Certificate of Compliance.
Lenders are going Green and want to insure their investments are not at risk. Buyers may require additional retrofitting or safety mandates to process a loan approval.
When conducting an inspection our team will make note of any additional safety concerns, code fails, violations, or implications that could delay the sale of a home or create a loan denial at the time of appraisal. Check with your lender for additional details.