DOING YOUR DUE DILIGENCE:
As a buyer, you absolutely must do your due diligence during the escrow process. This means doing property and permit research online. I’ve canceled quite a few escrows because of the information found during this research process.
Sometimes you find nothing. Sometimes it’s not a big deal but sometimes you find dealbreaker information. You can’t always fully interpret a permit from the 1950’s or 1910’s, but it helps you put an understanding together. This process is extra valuable in multi family home purchases. You want to make sure your legal unit count matches that being sold. You want to make sure that the three bedroom house you are buying is legally a 3 bedroom house. Sometimes it isn’t what you expect but you still love the house. At least then you are in the position to choose what to do with that information BEFORE you own it, instead of AFTER.
I can help you to interpret the information and even help do some of the research, but the responsibility to do your due diligence falls on the buyer completely to understand what they are buying. Not all sellers know their house’s history.
PULLING PERMITS: You can do this by going to the department of building & safety in Downtown Los Angeles. Or online at: http://ladbsdoc.lacity.org/idispublic/
Not all permits are available online, some older building permits can be researched additionally here & some need to be requested at the research desk as they may live only on microfilm.
DOING PROPERTY RESEARCH: In the City of Los Angeles, ZIMAS is a great tool.
Notable things to look for on ZIMAS include the assessment of the home, does it match the configuration being sold? What is the zoning? Is the home in an HPOZ? What is the lot size and does the lot line match that being sold?
BUILDING BIOGRAPHER: If you are interested in the history of the home you are buying, the building biographer is an excellent source:
Tim Gregory, www.buildingbiographer.com
He can do fact sheets or narratives. Prices range in the neighborhood of $400 to $800