Searching for commercial properties for sale in Santa Rosa is complicated enough, but finding the commercial property you want to buy doesn’t mean the process is over. Indeed, it has only just begun.
Up next are offers, contracts, negotiations, inspections, and the dreaded property disclosures document. If you’ve only been looking for commercial properties for sale in Santa Rosa for a short time, you may not realize how important the disclosure process is in California and how it differs from other states.
According to our research, there are only eight states in the entire country with specific disclosure requirements for those wishing to buy or sell commercial properties. The states are:
- New Hampshire
What Are Commercial Property Disclosures?
In case you’re unfamiliar, property disclosure is a process that takes place during the potential sale. It’s designed to protect the buyer against any issues that may not be obvious to the naked eye. A disclosure document asks the seller to be forthright about any known problems that could affect the commercial property’s value or desirability. The key word there is “known” as in many cases, the previous owner may not have any idea if a problem exists, since no issues arose during their time in control of the property, or they may just lie and claim they don’t know.
California’s Commercial Disclosure Requirements
California is known as one of the most stringent states when it comes to disclosures on commercial properties for sale. With regard to commercial property, California requires the disclosure when:
- The property is located in a hazard area, including fire, flood, earthquake, or seismic activity
- The property is located in a wildland area that may put it at risk for forest fires
Those who are looking at commercial property for sale in Santa Rose should also know that sellers are required to tell them:
- Whether or not the property meets disability access regulations
- How much energy the building used/consumed over the past 12 months and what the building’s ENERGY STAR performance score is.
And this is only the beginning of what needs to be disclosed. As you can see, disclosures can be a tricky process to navigate when you’re search for commercial properties for sale in Santa Rosa.
Allow North Bay Property Advisors to make this process easier with our commercial real estate services. With our help, you can navigate the buying and selling process with ease, confident that you’re choosing the very best property for your commercial operation.