(a) No person, agent, firm or corporation shall sell, transfer title or convey an interest in any dwelling structure, commercial building structure or other building or land upon which such buildings are located without first providing the purchaser with a current Certificate of Inspection or a Certificate of Compliance.
(b) The seller shall deposit in escrow a statement signed by the purchaser acknowledging receipt of the Certificate of Inspection or Certificate of Compliance, and such statement shall list thereon the date the Certificate was given to the purchaser.
(c) A copy of the purchaser's signed acknowledgement form, described in Section 1313.05 (b), shall be provided to the Building Department as a condition of transfer of title.
(d) If all violations listed on the Certificate of Inspection are not corrected prior to transfer of title, an escrow account shall be established and funds, in an amount not less than one hundred dollars ($100.00) and equal to one hundred ten percent (110%) of the estimated cost of repairs, shall be deposited therein to pay for the cost to correct all remaining violations. The amount to be held in escrow shall be determined by procuring written estimates from at least two companies capable of performing the work. The amount deposited into escrow shall be one hundred ten percent (110%) of the higher of the two estimates. If the party establishing the escrow (seller or purchaser) can demonstrate to the Building Commissioner that after a good faith effort he/she is unable to obtain two written estimates, the Building Commissioner may establish the amount of the escrow. In lieu of the deposit of funds into escrow, the purchaser may request permission from the Building commissioner to allow a bond of adequate surety, of at least one hundred ten percent (110%) of the estimated cost of repairs. Said bond shall be approved the Law Director before being accepted by the Building Commissioner. If the bond is rejected for any reason, the seller or purchaser shall be required to deposit cash in the escrow account as set forth above. If after securing a bond, the violations are not corrected in a timely manner as set by the Building Commissioner, the City may enforce collection of the bond, pursue enforcement of any and all property maintenance and Building Code violations, demand additional cash deposits be made to the escrow account, and take such other actions deemed necessary for compliance. If a purchaser fails to correct the violations in a timely manner, no further bonds will be accepted from that purchaser or any related entities for the property in question or any other properties in the City.
(e) Funds shall be disbursed only upon written authorization from the Building Commissioner or his/her designee. If the funds held in escrow are less than three thousand dollars ($3,000), no funds held in escrow shall be released until all violations are corrected. If the funds held in escrow exceed three thousand dollars ($3,000), the Building Commissioner or his/her designee may authorize partial release of funds from escrow upon his/her determination that substantial progress has been made in correcting the violations and that sufficient funds remain in escrow to correct all remaining violations. (Ord. 44-2010. Passed 7-12-10.)