realestate

California Governor Bans Predatory Real Estate Deals in Burn Areas

Los Angeles County bars unsolicited land purchase offers in select ZIP codes for three months.

C
alifornia Governor Gavin Newsom has issued an executive order to combat land speculators who are targeting properties damaged by recent Southland wildfires. These speculators make aggressive cash offers that often undervalue the properties.

    Newsom expressed concern for community members and victims who have received predatory offers while their homes were still burning. He stated that his administration will not allow developers to take advantage of these communities during a time of need.

    The order instructs state agencies, including the Department of Real Estate, to inform residents about their rights and available resources. It also provides contact information for law enforcement agencies to report any suspicious activity.

    This move is modeled after Hawaii's response to devastating wildfires last August, where similar measures were taken to protect affected communities from exploitation.

California Governor signs law banning predatory real estate deals in wildfire burn areas.