Clean up that Foreclosure!
Random Thoughts
July 12th, 2008
Good news for Neighborhoods! New bill will clean up that house down the street.As of July 8, 2008 anyone (a bank for instance) who acquires a residential property through foreclosure must maintain the exterior. Failure to do so can result in civil fines up to $1,000 per day. This includes failing to take action against squatters or trespassers, failure to maintain foliage growth that diminishes the value of adjacent properties and failing to take action to prevent mosquitoes from breeding in standing water (like swimming pools or water features).
Violators must be given at least 14 days notice to begin repairs and have 30 days to complete before fines can be assessed.
The full text of Senate Bill 1137 (Perata) is available at www.leginfo.ca.gov.
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Great post….mini rant. I love it! Right on…I hope all REO agents in Shasta County read this and inform all those banks. As short sale agents we also need to bare this in mind. Good work!