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Updated over 5 years ago on . Most recent reply
Real Estate Agents- how painful are Natural Hazard Disclosures?
I'm in the process of studying for my California real estate license. Not for the purpose of becoming an agent (I'm a software engineer by trade), but rather for the purpose of learning more about the real estate industry, with a view to perhaps starting a business tailored to the industry.
I'm currently learning about conveyances and disclosures, specifically the Natural Hazards Disclosure Statement. It strikes me that discovering whether a property is in a natural hazard zone might be a task which is both:
a) time-consuming to do manually for each of the agent's listed properties, and
b) super-important for the agent to perform correctly, from a liability standpoint.
I'd love the opinions of any real estate agents in this forum on this topic:
1) How much time do you spend on these disclosures for a single transaction, in terms of both due diligence/research/looking up records and also filling out the required disclosure forms?
2) How many transactions do you do in a given month?
3) Are there any software tools which make this task easier, and have you used them before, and how easy/hard were they to use?
Most Popular Reply
Nope, there are companies or services that do it for you. You only pick up the phone and order. You don't do the research. These companies have been in business for a while and insure the information. Check out myNHD.com or PropertyID.com