- A warning that we should investigate whether the property is in a "coastal zone" that might affect how we can use property.
- A warning that the property might be in an area where mudslides & wildfires have previously occurred. (Duh - this is California!)
- A warning that the official city boundaries might be different than the unofficial boundaries, and if a specific address is important to me, I should investigate. (don't want to be across the street from where it stops being "Beverly Hills"...)
- A warning that if at some time in the future, they declare the area a "historic district", that might affect how we use the property.
- A warning that the city might actually enforce the zoning laws and that might affect how we use the property.
- A warning that we should investigate whether there is an airport nearby and if we are in the "airport noise zone".
- A warning that wildlife might live in "brush, unimproved areas, canyons and mountains".
- A warning that any blueprints of the property made before the property was built might not be accurate.
- A warning that the value of the property could up or down in the future.
- A warning that existence of a city sewer system does not guarantee that the property's sewer connection to the city system actually works.
- A warning that we should investigate whether the property might have mold damage.
- A warning that we should investigate whether the property might have water damage.
- A warning that we should investigate whether the schools in the neighborhood are acceptable.
That's not all of them, but I'm tired of typing. Now think about this - I have no doubt that every one of these disclosures was created because someone, somewhere sued someone else over that specific line item. We are a stupid, stupid species!
Don't put out flowers or leave your garage door open. And some for seniors only do not want even your grand children visiting. Your back yard is common ground so any one can walk past it. That is also why I would not move to a mobile home park. Land lords up your rent with no warning. 
If I was living in commyfornia I would definitely want earth quake insurance. 
Then on top of that, you have other people in control of what you can and cannot do with "your" property (is it really yours?). Blew!!
Jerry, you are right on the Money Sir! But you forgot to add that the HOA Fees increase almost every year! 
and then they tell you they don't like that Pink Flamingo in your front yard 
