This means EC buyers have an immediate price advantage over private condominium buyers as they are buying a product that has a similar look and feel of a mass market condominium, but at a cheaper.
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Owning a condo has many of the same benefits of owning a single-family home. But before you buy, learn as much as possible about the condo, the rules and the board by reviewing the house rules, covenants, conditions and restrictions and the past year’s meeting minutes.
Research The Condo Association. One of the best tips for buying a condo is understanding the financial strength of the neighborhood! The association is in charge of keeping things together in your community. It needs to make sure buildings are in good repair, that the grounds are maintained, and that members uphold their end of the bargain.
Here are 10 tips to use when buying your first condo! This can include enforcing the association rules and regulations, handling questions from residents, and handling the condos finances. When buying your first condo or tenth condo, if you have questions regarding the community rules,
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One of the most basic tips for preparing a condo for the market is to declutter and make the property look spacious, so putting things in boxes or storage even before listing is a smart idea. In addition to putting belongings into boxes or storage, lining up a moving company in advance is also important.
Resale condo pros. While less expensive, a luxury not afforded when buying a resale condo is the Condominium Act, which grants newly built condo buyers a 10-day period to cancel their purchase. For this reason (and more), it is recommended that those seeking resale condos work with an experienced real estate professional.
my mortgage is too high I saw a home I liked far away in another state. I could very easily afford 20% down and also very easily afford the mortgage payments. My problem is that my FICO is probably too low for a conventional loan.
Actor and director Vincent Gallo has closed on a condo at Trump Tower in Midtown. (It was also the right time to buy. “I could sense a slowdown in the market,” he adds.) The corner home on the 54th.
Condos can be complicated. Asking these questions can help you spot trouble early. Buying a condo allows you to wade into homeownership without plunging into the responsibilities of a single.