Non Disclosure of a Mello Roos (Riverside: HOA, crime, loan)

[Ultrarunner]

Mistakes do happen... it's how they are dealt with which determines the companies integrity.

Stepping up to the plate, even with a little prodding is a good sign.

You need to be clear exactly what it is that you want and consult with someone that is on your side and who knows the law to make it happen if you are uncomfortable or unsure.

I've had a few issues in Real Estate over the years and thankfully they were all resolved satisfactorily and without going to court.

Good Luck

[LQQKOUT]

• How do property taxes affect the value and marketability of my home? Special taxes and assessments such as Mello-Roos Districts are secured by a lien against your property. Until the bonds issued by the district are paid off, whoever owns the property must pay for this debt. This means that buying a home in a Mello-Roos or Assessment District is like buying a home with another mortgage already attached to it. Wary buyers know to consider a home's tax burden when determining the total cost of the home, and for Mello-Roos districts, sellers are now legally required to provide the buyer with a Notice of Special Tax. However, it is important to note that no disclosure requirement currently exists for Assessment Districts, which place a similar lien and debt burden against your home.

[Ultrarunner]

Originally Posted by Proud Rowlett Owner

• How do property taxes affect the value and marketability of my home? Special taxes and assessments such as Mello-Roos Districts are secured by a lien against your property. Until the bonds issued by the district are paid off, whoever owns the property must pay for this debt. This means that buying a home in a Mello-Roos or Assessment District is like buying a home with another mortgage already attached to it. Wary buyers know to consider a home's tax burden when determining the total cost of the home, and for Mello-Roos districts, sellers are now legally required to provide the buyer with a Notice of Special Tax. However, it is important to note that no disclosure requirement currently exists for Assessment Districts, which place a similar lien and debt burden against your home.

I'm not an Agent or a Broker... but I know CA has very extensive disclosure statutes that cover things known or even should have been known.

I will have to leave it up to those in CA Real Estate to fill in the Blanks...

[LQQKOUT]

Originally Posted by Ultrarunner

I'm not an Agent or a Broker... but I know CA has very extensive disclosure statutes that cover things known or even should have been known.

I will have to leave it up to those in CA Real Estate to fill in the Blanks...

I think it is important for the OP to read the last line in this clip I posted.

[christina 76]

This non disclosure is going to continue to happen! I have spoken to other agents that have these Mello Roos houses listed and they will not tell potential buyers. I have the address of the houses and when they sell i will visit the new owners and ask them if they know that their house has a Mello Roos. If they say they don't i will tell them that i spoke to the listing and I told them. Then the people can take legal action.

[serialdriller]

Originally Posted by christina 76

I just got a call from Rodriguez saying that they told their insurance about what happened to me, he also said that is why they have insurance for. that he hopes to hear back from them soon. He also said that they want to work this out, that they don't want any bad press about their company, they r a good company and want to make their clients happy. I don't know if that is a good sign?

They are like car salesmen... they'll tell you lies to close the deal.. and afterwards when you get angry.. they tell you more lies to make you go away.....

i wouldn't let up until its resolved....

[christina 76]

I have been calling real estate company's and telling about the houses that they have listed have a Mello Roos. I leave messages and they never return my calls, even after i ask them too. It looks like they don't want to talk about the Mello Roos. Proof that they R KEEPING this info from the public!!

[Ultrarunner]

What did your lawyer say? Are you any closer to a resolution?

Does calling them about homes you don't intend to buy help your case?

[LQQKOUT]

Originally Posted by Ultrarunner

What did your lawyer say? Are you any closer to a resolution?

Does calling them about homes you don't intend to buy help your case?

I agree with ultrarunner, and I understand your anger. However I would slow down and contact a lawyer before you blast anymore. Be careful because you have posted certian names and company names. They can get you for slander.

Again if the homes are listed in a Assessment District area the brokers/agents don't have to give you that info. That is something YOU as the buyer must research. Having an agent is great, but don't solely give them the rains to your most valuable purchase of your life.

I believe the Victor Valley IS in an Assessment District, also if it was Bank Owned the bank does NOT have to disclose this info from my understanding.


" However, it is important to note that no disclosure requirement currently exists for Assessment Districts, which place a similar lien and debt burden against your home."

Assessment And Special Tax Bonds and Land Secured Financing



I wish you luck!

[Lienyie]

Taxes and M.R. are public information, as are school districts, Megan Law (released criminals), and your local fruit stand in area of buying a home.
You have no one to blame but yourself. There are no hidden items when buying a home. You should be even walking up the ladder with a home inspector and looking in the attic with them.
USMC wife around the world three times. Come on America. Take responsiblity for your actions, and teach your children common sense skills to stop the cycle of "not me, not my child" "They did not tell me"