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What documentsshould you verify before buying a condominium from the realestate agent who is selling you a house whose owner was a lady who died last month in the hospital?
Wiki User
∙ 14y ago
I am planning to buy a condo. The owner is dead. The real estate agent says that the money I give will go to Charity. This is what the owner wanted to do with the house. What documents shouldI ask the real estate agent , so that no body clims to be a son or daughter of this lady and ask me to give the house back
This way, generally you can either be assured of clear title, regardless of who makes a subsequent claim, or you can verify that the title is not available to be bought.
Wiki User
∙ 14y ago
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What is a collection of financial assets?
Money you have that you own, or things of value (such as realestate, or a vehicle or land or whatever) that you own that can be liquidated (turned into money by selling or renting or leasing)
Does a land contract need to be recorded at the courthouse?
All buying and selling of Realestate must be registered with the Government. Where I live this is done at Government Registries Office. Where you live that may be the Court House.
Where would one put up their condominium for sale?
One could place his or her condominium for sale on Craigslist for instance. In fact condos are very popular in certain countries in the world as they promote a certain lifestyle, selling a condominium in Hawaii is advised on HiCondos, if the condominium is in Singapore, STProperty is a good place to list the property for sale. In any case PropertyGuru is a good website to sell and gather information about the local market.
How do you use math in realestate?
Well you may use math by calculating your collected income from commission you' ve earned. For example, say you sold a $300,000 home. Most realestate agents get paid about 3% of the closing value of the home. So you would do 300,000x.03 and you would get $9,000. But don't foget about taxes, which is always 10%. So 10% of $9,000 is $900. So then subtract 900 from 9000. Then the realestate agent knows that he/she will be getting about $8,100 from selling the home. Hope that helped!!!
What is required from seller to sell a condominium in Michigan?
In most states, if you hold title to a condominium, you should be able to sell it.However, there may be restrictions or conditions upon sale, depending on what is spelled out in your governing documents. You may be required to hold title to the property for a certain period, restrict your sale to a person over the age of 55, and so forth.Your licensed realtor can help you prepare the appropriate documentation for selling your condominium.
Get out of a declaration of condos?
When you buy a condominium, you automatically become a member of the association. You can 'get out of the declaration', and all the other governing documents, by selling your unit. Otherwise, you are legally obligated to honour the governing documents.
What is importance of location when buying or selling house?
For convenience purposes. If you are the one selling it, it is easy to market this if the location is accessible to important establishments like hospital, school, church, etc.
How do you get a resale price on condominium that was purchased through affordable housing?
You may be limited by your purchase agreement, in the price you can ask for your unit. Otherwise, a realtor can help you understand the market and how you can price your unit according to your selling parameters.
What is a good title for a course about selling condominiums?
Your title will depend on our audience.For example, for realtors:Selling Condominium Units inThese Financial TimesA Converted Apartment High RiseUrban AreasRural Areasand so forth.For example, for owner/sellers:Selling Condominium Units inAn Established, Well-Run CommunityThe MarinaThese Financial TimesDistressed SituationsA Developer-abandoned Projectand so forth.A few of the examples are interchangeable.
What is the brief explanation of the concept Timeshare Selling?
A Timeshare is a property form of ownership or use rights. These property are typically resort condominium units, in which multiply parties hold rights to use property, and each sharer is allotted a period of time.
Regarding Condominium laws who is eligible to be on the association board?
Usually just the person that owns the condo.Review your governing documents to understand the qualifications for board membership in your particular community.No two states establish the same requirements; as well condominium governing documents will vary wildly on this point.During the declarant control period, when the project is new and the developer/ builder is still selling units, the declarant may have special rights of board appointment.Reasonably, however, in established condominium communities, being an owner is generally a requirement. In many communities, being a resident is usually preferable, although it may not be required.
How much are condominium association accounts worth in the market?
If you are a vendor, selling services, a condominium association account can be valuable, because condominium association board members compare notes and discuss vendor quality among themselves.If you exceed in service delivery -- go the extra mile -- the association can report that you are a high-quality vendor worth considering.If, however, you under deliver, or fail to set expectations you can meet (or fail to meet expectations you set); if you act punitively or fail an association, your reputation can follow you throughout the geography.Condominium associations as a group are tight-knit and depend on each other to find the best vendors.
