In response to increasing concerns over predatory real estate practices targeting firestorm victims in the Los Angeles area, Governor Gavin Newsom has issued an executive order aimed at curbing these exploitative activities. Following recent wildfires, including the destructive Eaton Fire in Altadena, unscrupulous land speculators have been making aggressive, unsolicited offers to purchase properties at undervalued prices, capitalizing on the distress and uncertainty of fire victims.
Governor Newsom’s order provides immediate protection for residents in fire-impacted zip codes in Los Angeles County, where communities like Altadena are facing significant devastation. The Eaton Fire has left many homes and businesses destroyed, and speculators are seizing on the vulnerability of residents by offering to buy their properties for far less than they are worth. These lowball offers threaten to disrupt the stability of close-knit communities and could displace families who have deep-rooted ties to their neighborhoods.
Also Read – How a Southern California Couple is Helping Wildfire Victims by Opening Their Home
Key aspects of the executive order include:
- A Temporary Ban on Undervalued Property Offers: For the next three months, making unsolicited, below-market purchase offers to homeowners in the affected areas of Los Angeles County will be prohibited.
- Enhanced Public Awareness and Resources: The Governor’s office will work with the Department of Real Estate and other state agencies to inform the public of their rights under the new order. This initiative will also provide residents with contact information for legal assistance, including the Attorney General’s Office and District Attorneys’ offices, which have the authority to investigate and prosecute violations of the order.
- Legal Enforcement: Violating the Governor’s order during this emergency period is classified as a misdemeanor, punishable by law. Those who believe they have been targeted by predatory offers are encouraged to report violations to the Attorney General’s Office.
This action follows a similar initiative from Hawaii’s Governor Josh Green, who implemented a similar order after the devastating wildfires in Lahaina, Hawaii, in August 2023. Both states are working to safeguard the integrity of affected communities and protect residents from unscrupulous profiteers in the wake of disaster.
Governor Newsom’s executive order is a crucial step in ensuring that fire victims are not further exploited by those looking to profit from their losses. As communities rebuild, the order aims to preserve the character and cohesion of neighborhoods that have already suffered significant harm.
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