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Which of the following is exempt from the natural hazards disclosure quizlet?

Which of the following is exempt from the Natural Hazards Disclosure? A geological hazard. Ross, a newly licensed residential real estate appraiser, is on his way to appraise his very first piece of property.

What type of transactions require the seller to give the buyer the Natural Hazard Disclosure Statement?

The disclosure requirements apply to all real estate transactions, including residential resales, new subdivision sales and commercial property transactions. Failure to make the required disclosure may render the seller or the seller's agent liable for actual damages suffered by the buyer.

What is included in the Natural Hazards Disclosure?

The six issues commonly covered within the Natural Hazard Disclosure are special flood risks, dam inundation, seismic activity, earthquake faults, very high fire and/or wildlife fires. On top of these main issues, the report can also cover minor hazards.

What is an NHD report in real estate?

NHD reports indicate if a home is located in an area that is prone to flooding, fires, earthquakes, or seismic activity. If you're selling a home in California, you'll need to provide a natural hazard disclosure (NHD) report to potential buyers.

Is a natural hazard zone disclosure report required in California?

The natural hazard disclosure report (NHD) is a California-specific report that home sellers must obtain for their buyers in order to sell a home in a natural hazard zone. This is required by state law in California for sellers to be in compliance with the 1998 Natural Hazard Disclosure Act.

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What hazards are included in the Natural Hazard Disclosure Statement?

If the listed property is located in an area common to natural disasters or weather emergencies, buyers need to be aware. The six issues commonly covered within the Natural Hazard Disclosure are special flood risks, dam inundation, seismic activity, earthquake faults, very high fire and/or wildlife fires.

What is natural hazard zone disclosure report?

An NHD report is your chance to inform buyers of the risks involved in purchasing your home. If you disclose that your home sits in an area prone to earthquakes or wildfires, for instance, you won't be liable should a buyer purchase your home and see it destroyed by an earthquake or engulfed by a wildfire.

Is a natural hazard disclosure report required in California?

Share: Selling a home in California? You're required to provide your buyers with a Natural Hazard Disclosure report, better known as an NHD. Sellers are required to provide this report so that buyers understand when they are considering a home that might be at risk of wildfires, floods or earthquakes.

What is California Natural Hazard Disclosure Report?

A Natural Hazard Disclosure Report is a statement sellers are required to provide to buyers by the state of California. It lets buyers know whether the home is located in certain natural hazard zones, including: Area with special flood risks. Dam breach inundation zone.

What is not included in the Natural Hazard Disclosure Statement?

The Natural Hazard Disclosure Statement (NHD) handed to a prospective buyer does not disclose: environmental hazards and physical deficiencies in the soil or property improvements.

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Which of the following is exempt from the natural hazards disclosure quizlet?

What type of transactions require the seller to give the buyer the Natural Hazard Disclosure Statement?

What is included in the Natural Hazards Disclosure?

What is an NHD report in real estate?

Is a natural hazard zone disclosure report required in California?

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