Nearly every town has its own unique real estate regulations to abide by, and last week I wrote about Berkeley's RECO--Residential Energy Conservation Ordinance--guidelines that require properties to be energy efficient. Well, there is more where that came from! What other issues do you need to be aware of when participating in a real estate transaction in Berkeley?
Seismic Upgrades and Transfer Tax: The City of Berkeley has imposed a transfer tax equal to 1.5% of the sale price. But, the good news is, up to one third of the tax (0.5% of the sale price) may be rebated to pay for the seismic strengthening of the structure.
Rent Control: Berkeley has strict rent control regulations, so make sure you follow them when buying or selling a home with renters. Renters need 24-hour notice before any inspections or open houses. New owners can do "owner move-in evictions" if it is for the primary homeowner and immediate qualifying family members, but renters must be evicted properly and they may be eligible for moving and related costs reimbursement.
Creek Protection: Berkeley has a beautiful and intricate network of creeks, and homes bordering the creeks have strict guidelines for protection of the creeks. Make sure to contact the City of Berkeley to see if your property is effected by this regulation.
Sewer Lateral: Berkeley also has regulations to make sure that the sewer lateral connecting the home to the city sewer system is in good working order. I've blogged about this before, so read all about it right here.
These can be kind of tricky. If you would like more information about these and other regulations affecting real estate transactions in Berkeley, please let me know. I'm always happy to help. I can be reached at 510-547-5970 x62 or MSmartt@jps.net.
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