We live in Richardson and still got utility sticker shock from where were originally from.

:)All I did to the house was had a ton of shock dumped into the pool to keep it from turning into a swamp.

A good exercise is to fill out this Preliminary Change of Ownership report (PCOR) which you can find on the County's website: http://www.sonoma-county.org/Assessor/HTML_Documen...It is smart to submit a PCOR with your real property recordings to better clarify your case with the Assessor and any reassessments they might perform.

I've found that many times when inherited tenants are paying low rent and have some utilities included, it's best to start over with a new tenant at the higher rent due to shell-shock and most likely you'll have to evict them within a year anyway.

A bit late to the party here, but had to say that these replies are shocking and naïve. 

He was shocked I didn't know about him.

I would be shocked if it takes that long to get a permit.

After speaking with the escrow office they were shocked the agent did what he did and said it was definitely mishandled. 

I would be SHOCKED if you could find a lender that will loan you the money you're seeking.  

From my preliminary viewing I didnt notice that the roof was in as poor shape as it showed to be during the inspection, otherwise I wouldve lined up roofers from the start, you make a good point there Anyway, things are progressing and we are working through the option period and negotiations.