Real Estate Articles

One of the most confusing aspects of purchasing real estate is the CC and Rs (Covenants, Conditions & Restrictions) vital for condominium purchases. Herein lies a familiar story.

The Question:
When purchasing a condominium/ townhouse, why is it important to fully review the CC&R’s?

The Scenario:
Gillian is a self-employed single woman who was looking to buy a condominium/ townhouse; she was pre-approved and had a 10% down payment. Gillian looked in the area she wanted and found a beautiful townhouse; it was her dream home. Her offer was accepted and she obtained copies of the CC&R’s (Covenants, Conditions & Restrictions).

Her agent strongly advised Gillian to read them thoroughly; CC&RS are usually extensive and include the annual budget, meeting minutes and various rules and regulations. Her agent offered to review them with her. Gillian stated that she was busy and would review them by herself.

After the allotted 10- day period to review these documents, Gillian said there were no issues of concern and that all was well. Three months after Close Of Escrow, Gillian informed her agent that a $5,000 assessment was effective at year’s end. She was shocked! Gillian finally admitted she had only skimmed the documents.

The Solution:
Had Gillian taken the time to review the minutes as well as the other documents, she would have been better prepared for this and other assessments.In the future, if you are buying property remember this:

If you are purchasing a condo and your agent offers to review any documents, please take their advice. That’s what they are there for.

Condo purchasing is as easy as you allow it to be. With help from a qualified real estate agent, this purchase could have been less confusing and less expensive.

Bea Newhall is a successful real estate agent for Frank Howard Allen, the top real estate company in Marin County. A forty-year resident, Bea knows all there is to know about Marin County. All Bea’s clients feel like they are her # 1 Priority. You can reach Bea via email at: bea@beanewhallrealestate.com or call her office, 415.925.3263. Bea Newhall, The Realtor You can Trust.
Want more real estate tips? Go here now! http://BeaNewhallRealEstate.com

Article Source: http://EzineArticles.com/?expert=Bea_Newhall

At last you are the proud owner of a Miami condo. You made careful decision in selecting this condo. It has a good price and suits your needs that why you bought it. And the good thing, you don’t need to attend the repair and maintenance of your condo. The homeowners’ association will takes care and pay for the repair. Not to mention your neighbor seem to be nice and compatible with your social background.

With the good aspect of this condo, you may not think to relocate at this moment. All you want to do is looking forward in many years of living in a relax life style, but living in a condo is not problem-free. You may encounter some problem always facing the homeowner. As a condo owner you invest in a portion of sizeable brick asset with a responsible commitment to assuage the value of property.

Condo unit value will depend on the economy; its value may increase or decreased. The owner must watch carefully his/her asset. Condo owner must be aware and verify, if the building is well managed. It is your obligation as condo owner to use the tools of your disposal to check if it is well taken care of. You must know and look closely all the activities of the association. You can even volunteer to work on committee. Condo owner has the obligation to protect his assets and to make sure it is run and manage by administrators.

These administrators must be savvy, with sound judgment, and carefully protect the money of the co-owner. Every condo owner can not escape the responsibility in watching and protecting their assets. This is one way in securing the foundation of living. It is not hard to have a clear view of you rights and believe with confidence that things just don’t happen. As a condo owner you have the right to be told about the truth regarding on the condo building stability in the economy.

You may request all the information that is relevant and can satisfy your curiosity. The process is always the evolution and it’s never end. In owning a condo you must be prepare for this. You must be ready to face all the consequence in owning a condo. You may decide to resell your condo or not, but the important things is, you must always aware of your condos stability. Remember it is your right to protect your investment.

You can check online about your condo building. You can check the property value of it unit; if it maintain its value or its start to decrease. In this way you can make necessary action regarding your condo. Checking online is easier. While doing the checking, enjoy the relaxing view and nice amenities of your Miami condominium.

Eliza Maledevic Ayson

http://regatta2.com/

A main problem about the policies in a Miami condo unit is having pets. If you want to keep a pet it’s practical that you inquire about the condo’s policies about pets.

Miami condo’s may or may not allow pets because of some certain conditions like the other living in the condo have allergies on pets. And if you are allowed to keep your pets inside your condo unit you should observe the proper rules for pets like your pet should be friendly and behaved or else some of the condo owners will complain about the loud barking of your pet.

As a regulation the pet should be carried during walking in the lobby and if the size of your pet unable you to carry it you must find an alternative in carrying your pet. Also, cleaning the messes your pet makes should be your responsibility and for some Miami condos they will charge the pet owner for the cleaning the concierge will do to the pet’s droppings. Also when waiting in the lobby if your pet is a dog it should be restrained so that it will not disturb any customers,

When the owner is not present in the condo unit, no pet must be left outside on the terrace or be allowed to roam around or else the other condo owners will probably complain to the management about the matter which can be quite troublesome. In some Miami condo’s their walls are sound proofed so that the noise that the pets will make will not be heard by other condo owners, especially dogs which can be quite noisy at night. Make sure that your pet doesn’t damage any condo property to avoid extra charges

If you’re looking for a good Miami condo, take your time and think about the factors like will it be far from your work? Will there be other transportation methods if you don’t have a car? Will you be alone or will your family be with you?

Living in a Miami condo unit has become quite popular for people who don’t have time to maintain their house or their lawn. Also, keep in mind when picking a Miami condo, you should choose a building that suits your economic standards you might now want to pick the most expensive condo or get annoyed each time the water line or electricity gets cut because you picked a cheap condo.

In summary living in a Miami condo can be fun and easy with or without a pet, and just by observing the rules of the condo you live in will make it easy for you to be known by other condo owners and possibly even make some friends on the process.

Eliza Maledevic Ayson

http://epicmiami.com