Accessory Dwelling Units (“ADU”), also known as Granny Flats” or in-law units are rising in popularity in California as a “sort of” solution to the housing shortage crisis. ADU’s are not separate legal units and must be marketed properly to avoid misrepresentation during the listing and marketing period.
Click here to view the ADU Assembly Bill
Flipping may look easy as highlighted on several reality shows or feedback from a friend of a friend, but Flipper beware. Just because a seller has not lived in the property he or she is not immune from disclosure responsibilities. As Realtors we can provide and explain The Transfer Disclosure (TDS) which must be filled out by all Sellers, disclosing all known conditions that may materially affect the value and desirability of the property. We can help you to determine issues that may come up in the purchase process, regarding renovations, condition of property prior to renovations and repair of defects.
While California home prices are higher than most other parts of the country, home purchase was not just a dream for the many home buyers that raised the numbers for 4th quarter sales.