A condominium is another real estate option other than a traditional stand-alone home. Usually condos are purchased with mortgage, but in difficult markets or selling situations they may be rented as apartments. Learn more here about condominium housing.
Good Landlords Treat Tenants Well
Want to know how to be a good landlord? For starters, landlords should treat their tenants with respect and courtesy. This renter thinks he's being mistreated by his landlord and wants to know his rights as a renter.
Selling Investment Property And Avoiding Capital Gains Taxes
A lucky investment property owner is debating whether to flip a property and make a profit or using it as a primary residence for two years to defer capital gains taxes. Before making a decision about selling, figure out whether you want to keep doing this as a business and if so, consider using a 1031 exchange to purchase a replacement investment property.
Renter Wonders About Condominium Rent Increases
As a renter you may not be sure how much your landlord can increase your rent by each year. How can you find out if your city has any rules or regulations about rental property rent increases? You can contact your city government or check the original rental agreement or lease.
Condo Closing Incurs Extra Fees
Who pays closing costs? A couple asks for real estate advice after incurring costs in a closing that they believe they should not have had to pay. The closing attorney charged an extra fee and the closing was delayed by four months. Who is responsible for these additional costs?
Cannot Pay Back a Loan – Is It My Fault?
A lender gives you money based on your ability to repay the mortgage. If you lose your job or even if someone lied on the appraisal or application doesn't excuse the fact that you borrowed the money and spent it. Now the lender who owns the rights to your mortgage has the right to be paid back, no matter how many "pennies on the dollar" he paid for the servicing rights to the loan. Who is to blame when a loan doesn't get paid?
Real Estate Scam: Condo Owner Scammed By Real Estate Company
The owner of a condominium believes she was scammed by a real estate company who bought her condo to get her out of foreclosure. In the scam, the condo owner never got most of the money she was supposed to get from the real estate company for the condo purchase. Ilyce recommends the condo owner get in touch with an attorney immediately to help her retrieve her money from the real estate company that scammed her.
Baby Boomer Trends
With more than 70 million baby boomers heading into retirement over the next generation, developers are trying to figure out what kind of homes they're going to want to buy. Many boomers are demanding more -- and different -- housing choices. Baby boomers expect developers to provide recreational amenities like well designed work out rooms and conveniences like an in-building dry cleaner.
Seller Disclosure Includes Structural Problems
When you're selling a condominium or another home, it's best to be totally honest in your seller disclosure. Seller disclosure includes structural problems, including any studies related to them. In determining whether to disclose a problem, you should think about whether the issue has been corrected. If it has been taken care of, usually there's no obligation to include it in seller disclosure. If the problem is a recurring problem even after many attempts to correct the problem, then seller disclosure may be required.