Disclosure alert for North San Diego County REALTORS
Memo to North San Diego County Realtors®: The North County Times has just published a report that:
For five years, San Marcos city officials kept from public view a color-coded map showing varying degrees of risk to residents from catastrophic wildfires ---- including two neighborhoods judged to be in "extreme" danger of property loss, death or injury ---- for fear insurance companies would use the information to justify dropping policies or hiking rates, officials have acknowledged.
In 2005, San Marcos commissioned a study to assess wildfire risks for the city's communities. The study rated two communities as having "extreme" and five as having "very high" risks during wildfires.
City officials said in a series of recent interviews that they decided not to publicly release a color-coded map from the study that marked Coronado Hills and neighboring Attebury in a shade of deep red ---- signifying extreme wildfire hazard ---- opting instead to circulate a version showing all wildfire areas in a uniform shade of green.
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(EXCLUSIVE: Worried about insurance, San Marcos officials kept fire risk map secret)
Are the properties referred to in this article at risk of wildfire damage? Potentially.
Are Realtors® negotiating purchases and sales of these properties at risk of liability for failing to disclose the information contained in this article? Absolutely.
If you are an agent, broker, or seller involved in any transaction concerning the properties located in any of the areas referred to in this North County Times article, you will want to have a copy of this article in your file initialed by the buyers and sellers. Consider it liability insurance.
