\u0631\u0648\u0633\u062a\u0627\u06cc \u0644\u0627\u06af\u0648\u0646\u0627 \u0648\u0648\u062f\u0632<\/p>\n
MARCH 6, 2024, SPRING REAL ESTATE FORUM<\/p>\n
ANSWERS TO REALTOR QUESTIONS<\/p>\n
GENERAL\/OTHER<\/p>\n
When changes are made to forms in the resale packages, can escrow agents be notified of what<\/p>\n
the changes, tweaks and updates are?<\/p>\n
Staff will make every effort to notify realtors and escrow agents of any changes made to the<\/p>\n
resale packages via informational bulletins.<\/p>\n
The DRE no longer issues wallet-size licenses to realtors. How do we enter the gate if we don\u2019t<\/p>\n
have our license, and gate ambassadors don\u2019t accept our business cards?<\/p>\n
Realtors should not be denied gate entrance when showing their valid driver’s license and their<\/p>\n
business card. Realtors may reach out to security supervisors by calling security dispatch at 949-<\/p>\n
580-1400 if gate access is denied for any reason. Agents may also obtain a business pass by<\/p>\n
contacting Resident Services at residentservices@vmsinc.org or 949-597-4600, or by visiting the<\/p>\n
Community Center at 24351 El Toro Road.<\/p>\n
How can agents become authorized to act on behalf of the seller(s) during the escrow process<\/p>\n
to effectuate corrections?<\/p>\n
The Manor Alterations Division has a form that allows the property owner to designate an agent<\/p>\n
of the property owner to apply for a mutual consent for an existing unauthorized manor<\/p>\n
alteration(s) discovered during a resale inspection. Obtain the form by reaching out to Manor<\/p>\n
Alterations at alterations@vmsinc.org or in person at the Manor Alterations office in the<\/p>\n
Community Center at 24351 El Toro Road.<\/p>\n
What happens if a prospective buyer who enters the community to see an open house gets a<\/p>\n
speeding ticket? Who is charged for said violation: the seller or the real estate agent?<\/p>\n
The seller is responsible for the violation.<\/p>\n
There are still noncompliant realtor signs in the Village. Many Laguna Woods Village realtors<\/p>\n
went to great expense to redo all their signs when the updated orange signs became a<\/p>\n
requirement. It does not appear to be enforced.<\/p>\n
Real estate\/leasing sign policies are being enforced; however, it may be a challenge to catch all<\/p>\n
signs that are noncompliant. If you see a nonstandard sign, please notify Security Services<\/p>\n
immediately at 949-580-1400.<\/p>\n
Is there a possibility that the GRF trust facility fee will increase?<\/p>\n
The fee was last updated January 1, 2022. As part of the ongoing review of GRF fees, the trust<\/p>\n
facility fee will be up for review in 2025.
\n7<\/p>\n
Is staff aware of SB 567, the Homelessness Prevention Act, which becomes effective April 1,<\/p>\n
2024?<\/p>\n
The housing mutuals, GRF and VMS are not parties to the terms of a lease or rental agreement<\/p>\n
between the member and lessee or renter and will not be involved in resolving any disputes<\/p>\n
between the member and lessee or renter. The nuances of SB 567 are between the tenant and<\/p>\n
landlord. It would be in the landlord\u2019s best interest to seek professional help or consult a legal<\/p>\n
professional who specializes in landlord\/tenant law to further understand the new provisions.<\/p>\n
Staff is unable provide legal advice.<\/p>\n
INSPECTIONS\/MOISTURE INTRUSION<\/p>\n
Who is responsible for repairing all safety items like electrical or smoke detectors prior to the<\/p>\n
close of escrow? How can all safety items be repaired prior to the close of escrow?<\/p>\n
In Third Mutual, smoke detectors are the responsibility of the manor owner. In United Mutual, if<\/p>\n
the member has altered or replaced the smoke detectors on their own, they then become the<\/p>\n
members\u2019 responsibility. If the smoke detector is missing or nonoperational, replacement is the<\/p>\n
mutual\u2019s responsibility through Resident Services.<\/p>\n
All items that are the responsibility of the mutual will be repaired based on the submitted<\/p>\n
service request made by contacting Resident Services. Most items should be found during the<\/p>\n
initial resale inspection. The inspector will then send corrections to the member\/owner for items<\/p>\n
for which they are responsible and will also send information to Resident Services to create<\/p>\n
service orders for mutual-controlled\/owned items. Should real estate agents find other items<\/p>\n
based on a third-party report, they should immediately contact (or have the owner contact)<\/p>\n
Resident Services to make a service request for repairs of mutual-owned items. Any item not<\/p>\n
owned by the mutual may be repaired by the owner or owner’s contractor, or may be requested<\/p>\n
as a chargeable service so long as the mutual provides the requested service as a charge. Please<\/p>\n
reference non-emergency maintenance chargeable services for United Mutual and for Third<\/p>\n
Mutual at lagunawoodsvillage.com.<\/p>\n
When a moisture intrusion event was recognized on the first inspection report and<\/p>\n
subsequently resolved, the corrected event was not recognized on the final inspection report,<\/p>\n
which delayed the close of escrow for weeks. How can this be prevented and get issues<\/p>\n
resolved sooner?<\/p>\n
For damage restoration events in which the member is responsible, actions must be complete<\/p>\n
before the close of escrow. Once complete, the Damage Restoration Division notifies Manor<\/p>\n
Alterations that they may release the final inspection. Because it is no longer an issue at that<\/p>\n
point, there would be no reason to show a hold on the final inspection. In damage restoration<\/p>\n
events in which the mutual is responsible, corrections are made by the Damage Restoration<\/p>\n
Division. Completion of these events are not required by close of escrow. This division has greatly<\/p>\n
reduced the number of historical events in order to minimize the number of holds.<\/p>\n
There are times when third-party home inspectors identify items that were missed by VMS<\/p>\n
inspectors during the first inspection that were the mutual\u2019s responsibility. How can this be<\/p>\n
prevented?<\/p>\n
When items are identified after the first inspection by a third-party inspector, agents must<\/p>\n
2
\nprovide the information to the Manor Alterations Division. It is always beneficial to have third-<\/p>\n
party inspections. Manor Alterations\/resales inspections are primarily focused on maintaining the<\/p>\n
mutual\u2019s investments. A third-party inspection is focused on what’s best for the buyer. Any<\/p>\n
concerns that should be reviewed prior to close of escrow should be forwarded to the resales<\/p>\n
inspection team for evaluation.<\/p>\n
Was a study done to warrant the reasoning to increase resale inspection fees?<\/p>\n
Resale inspection fees have not increased in Third since 2007 and in United since 2008. An<\/p>\n
analysis revealed that a portion of the costs associated with the resale inspection process is not<\/p>\n
recovered from the requesting member, and an increase in fees would serve to recover more of<\/p>\n
the administrative costs associated with the transactions. United Mutual adopted Resolution 01-<\/p>\n
24-28 on March 12, 2024, which increased its inspection fees to the following:<\/p>\n
First Inspection<\/p>\n
$360<\/p>\n
Reinspection (if required)<\/p>\n
$60<\/p>\n
Final Inspection (if required)<\/p>\n
$110<\/p>\n
If the member doesn\u2019t show for the first or final inspection and\/or if a correction is not<\/p>\n
completed when the inspector arrives for the final inspection, the reinspection fee will be<\/p>\n
charged.<\/p>\n
No fee will be charged for a final inspection if, after the first inspection, it is determined<\/p>\n
that there are no corrections or deficiencies for the member to complete prior to the close of<\/p>\n
escrow.<\/p>\n
Will the new ERP help with moisture intrusion work orders, and will it help speed up the<\/p>\n
process?<\/p>\n
The new ERP should organize data more appropriately, streamline the invoicing\/billing process<\/p>\n
and better facilitate timely communication with affected parties. While it is never convenient<\/p>\n
when an event occurs (or is first discovered) during the resale process, this will help minimize the<\/p>\n
time required in resolving it.<\/p>\n
LEASING\/LEASING CAP<\/p>\n
When children purchase homes for their parents to live in the unit, can the leasing process and<\/p>\n
payment of the fee be eliminated each year?<\/p>\n
No. In United Mutual, children younger than 55 may not purchase units in which a parent may<\/p>\n
reside. Age-qualified children who purchase units in which age-qualified parents will reside must<\/p>\n
satisfy the mutual\u2019s financial qualifications. Only if a parent and adult child reside together as co-<\/p>\n
occupants in the adult child’s principal residence can a leasing fee be avoided. The alternative is,<\/p>\n
of course, for the adult child to sublease the dwelling unit to the parent. In Third Mutual, a child<\/p>\n
old enough to sign a contract may purchase a manor but cannot reside in the unit until age-<\/p>\n
qualified. The child can, however, lease the unit.<\/p>\n
Both mutuals have policies relating to leasing (Third) and subleasing (United). Both<\/p>\n
policies require fees associated with the review, processing and approval of all<\/p>\n
new\/extension\/renewal applications, which are not subject to waiver.<\/p>\n
3
\nHow can children who want to purchase units for parents get them authorized to reside<\/p>\n
without affecting the leasing cap?<\/p>\n
See previous question and answer. In both United Mutual and Third Mutual, the only means of<\/p>\n
avoiding an impact to the leasing cap is for adult child and parent to co-occupy the unit as a<\/p>\n
principal residence.<\/p>\n
How will short-term rentals affect the leasing cap?<\/p>\n
Short-term leases are treated no different than regular ones. Similar to leases, no unit may be<\/p>\n
used for vacation rentals for a period of less than 30 days and would affect the leasing cap;<\/p>\n
however, once the lease has expired, it might open up a space for others to lease.<\/p>\n
Third\u2019s leasing cap is fast approaching. What happens when the 30% cap is reached?<\/p>\n
On October 21, 2008, by way of Resolution 03-08-106 the board established the 30% leasing cap<\/p>\n
and reiterated the cap again on April 21, 2020, by way of Resolution 03-20-26. The latter<\/p>\n
resolution adopted a leasing cap and lease waiting policy, which provide procedures for leasing<\/p>\n
manors when the cap has been reached. This wait list policy has never been implemented before,<\/p>\n
so staff will work carefully to administer it.<\/p>\n
What is the California legal definition of \u201ctenant\u201d to help with the leasing cap?<\/p>\n
According to Civil Code Section 1946.2 (i)(3), \u201c… tenancy means the lawful occupation of<\/p>\n
residential real property and includes a lease or sublease.\u201d The DRE defines a tenant as \u201csomeone<\/p>\n
who obtains the right to the exclusive use and possession of the rental unit\u201d from a landlord<\/p>\n
during a rental period. The legal definition of \u201ctenant\u201d doesn\u2019t change the leasing cap<\/p>\n
percentage; however, room renters or lodgers who occupy the owner-occupied unit do not count<\/p>\n
toward the leasing cap.<\/p>\n
RESALES\/FINANCIAL REQUIREMENTS<\/p>\n
What is the process once escrow packets are submitted for approval? What happens when the<\/p>\n
packet is denied?<\/p>\n
The resale process is posted to lagunawoodsvillage.com > Neighborhoods > Realtor & Escrow<\/p>\n
Information > scroll to Real Estate Documents and click Resale Flow Chart.<\/p>\n
Can the board exercise discretion to allow prospective buyers to combine income\/assets in<\/p>\n
order to qualify financially in Third Mutual?<\/p>\n
Yes. It is noted in Third Mutual’s financial requirements section | (d): \u201cNotwithstanding anything<\/p>\n
to the contrary contained herein, if more than one (1) Applicant will acquire an ownership interest<\/p>\n
or reside in any single unit, such Applicants\u2019 income and net worth may, in the Board’s sole<\/p>\n
reasonable discretion, be calculated collectively.\u201d<\/p>\n
3<\/p>\n
Please provide a clear explanation of the interim dual ownership agreement.<\/p>\n
United does not permit ownership of more than one cooperative membership, except under an<\/p>\n
interim dual ownership agreement, which is issued for six months. The agreement will allow a
\ncurrent United member to purchase a new manor and sell their current manor within six<\/p>\n
months. The interim dual ownership agreement is not needed in Third Mutual.<\/p>\n
Can financial break exceptions be made for children buying for parents?<\/p>\n
There are no exceptions.<\/p>","protected":false},"author":2,"featured_media":0,"template":"","document_category":[1712],"document_type":[53],"class_list":["post-50023","document","type-document","status-publish","hentry","document_category-realtor-forum-qa","document_type-other"],"acf":{"document":47862,"resolutions":null,"legacy_id":"9335","pdf_extracted_text":""},"yoast_head":"\n