I'm looking at condos in Hawaii, and the one I'm interested in is on a lease hold. it's up in 14 years- what exactly does that mean
123631
There are many forms of interest in a property.  Common form is Fee Simple which basically means you own all of it and its belongings.\n\nLeasehold interest means that the land that your condo sits on is on a land lease.  Land lease generally runs for 100 years.  However, the important thing to remember is that you DO NOT own the land.\n\nThe messed up part is that whoever owns the land might not renew the lease either.\n\nUsually, the lenders will not even lend on a property if there is only 14 years left.  If you think about it, the loan is generally for 30 years, but you might not have the property after 14 years.\n\nYou should try to steer clear of this especially with such a short amount of time left.
268215
You have to follow the terms agreed to in your rental agreement.  Sorry there is not a better answer.
253327
Check your CC&Rs (Conditions, Covenants and Restrictions) which sets out the rules for condo residents.  It should set out specifically what consequences there may be for unpaid fees to the HOA.  But I agree, why don't you just pay it?
360162
The first website here provides you with some good general links. The second website that I have listed here links you to the actual statutes in the State of Nevada. I only skimmed through the statutes, but I did not see anything there that said that the landlord has "x" amount of days to repair things, etc. Double check your lease agreement, it may be stated in there. If not, double check with your local housing commission.
150526
Renting to Own (RTO) can be a great way to get into the home of your dreams especially if you have challenged credit.  If you know you can fix or boost your credit withing the time of the lease (say 2 years), then get in now and refinance into your name when your credit is better.\n\nIf you can lock in the purchase price for the full term, even better, especially if the market moves up.  This isn't always the case, but if available, good for you.\n\nDrawbacks:  If you are late on a payment you may lose your entire deposit and any credit towards the purchase price that you may have accumulated.\n\nAlso if you decide not to buy at the end of the term, you lose your deposits and credits as well.
619640
Even if there is a clause that states your landlord can raise the rent see if 72 FULL hours has passed. The fourth day can really mean the fourth day but not 72 whole hours. Most states have a buyer's remorse period where any contract signed can be negated within the first 72 hours. Therefore, check the lease. Most standard leases do not allow a rate increase during the lease term. Also since the terminology in the notice is incorrect, that notice is not binding. The notice stated "...since the lease has renewed...". This is not a lease renewal. This is a new lease. As always, please contact an attorney for professional legal advice. This answer depends a lot on state and local law surrounding the apartment.
567387
Estimates are usually pretty accurate.  A lot of complications can bollix up a real estate closing, but try not to think about it.\n\n(I know; I've gone through 2 in the last 3 years.)\n\nAlthough no transaction is set in stone until escrow closes, the fact that you are this close to the closing date is a good thing.  Keep thinking positively and try to relax.
270193
Had a friend whose condo went upside down in the 90's...meant he owed more than it was worth ..bottom had fallen out of Real Estate in So.Cal.\n\n\nHe only paid HOA fees every month and banked his mortgage payment every month...took the bank 18 months to foreclose and evict him...but he had over 18,000 in his bank when he finally had to move!!\n\n\nHOA= Home Owners Association...common area upkeep
167915
It means it isn't part of the real estate it is installed on and wouldn't be included in a real estate appraisal.  They probably look at it the same as a blow up pool, or swing set because it can be moved.\n\nAn inground pool is permanent, therefore part of the real estate.
520234
Depends on your lease agreement. I would contact the housing authority for advise. They have a website  I beleive. G/L!
525459
Your lease contract should have a section concerning notice periods for rent increases and termination of contract.  The usual period is one to two months but can vary, so check what it says. Increases are up to the landlord but generally take into consideration inflation and any repairs and maintenance carried out on the building by the owner, or any scheduled improvements and you should have all of this in writing, either in the contract or in separate communications.  Usual increases are up to but not more than about 25% every two years or so by reputable landlords.  If you do not have a contract for your present premises ask your landlord for one or look for some where else to live as he will only do the same next year.  Good Luck.
355492
What you want to do is to downsizie. It happens to many people, especially when they get very old. You are still young. However, if you are getting tired of the maintenance, then consider selling. If this were two years ago, I would say wait until March. You could get a higher price. Nonetheless, the market is different and there is no guarantee you can get a higher price if you wait. If you have decided that you don't want to deal with a large property, then it may be a good time to move on with your life. Good luck.
265231
A condominium is property developed for concurrent ownership, where each co-owner has a separate interest in an individual unit, combined with an undivided interest in the common areas of property.\n\nA co-op is a residential multi-unit building whose title is held by a trust or corporation that is owned by and operated for the benefit of persons living within the \nbuilding, who are the beneficial owners of the trust or stockholders of the corporation, each possessing a proprietary lease.\n\nWhich is better just depends on what your situation is.\n\n\nHello, \n\nA HUD home is a property that was foreclosed on a FHA-insured mortgage loan and deeded to HUD/FHA. Then Hud must sell those homes at market value A.S.A.P. to get the most finanial return on its mortgage insurance.  A Real Estate agent has to be used in the purchase of a HUD home and the buyer must be preapproved.\n\nThe purchase of a co-op includes shares of stock in a corporation that owns the entire building. The shares are a part of a lease that permits you to "rent" the apartment. Whereas the purchase of a condo means you actually buy the apartment, as well as a proportionate share of the property's common space.\n\nWhat you need to consider when buying a co-op VS a condo is how desirable they are in your area. West coast has more condos and East coast more co-ops, so you need to think about what is more popular in your area, so that when you go to sell you have more potential buyers.\n\nNow as for your situation I was referring to the co-ops extensive application process, like detailed credit check, social contacts, business contacts and a live interview.\nSome co-ops don't allow financing so you will have to pay cash and  have assets to cover 2 to 3 times the cost.
307523
Most lenders will not lend on the property if the time remaining on the lease is less than the terms of the loan so there is that small reassurance.\n\nActually these purchases happen all the time; look at Palm Springs, CA. Much of that area is leased Indian Land and there have been no problems. I would think the new purchaser would have a real issue evicting a number of people from their homes; the banks would be all over them and by the time is finally wound it's way through the court you will most likely be dead and buried!\n\nDepending on the amount of development in the area your most likely safe however if the area is under developed or rural you may wish to speak to a good real estate attorney for their advice.\n\nKevin\nkruorock@firstratelending.com\n866-562-6838 x 106
416710
When you had the contract for sale drawn up, did it include a clause that there were no known pending assessments on the property?  Did you review the association minutes to see if anything out of the ordinary was discussed?  Sometimes a pending assessment will even show up in a title search if the attorney for the condo assoc. has filed it in an attempt to alert potential buyers to that possibility. \n\nYou can file a form with the post office that says you need their new address in order to serve them with a subpoena.  Some states even allow you to send in a request to the DMV for a current address for process of service.\n\nDidn't they put their forwarding address on their 1099 certification form at the closing?  You could also do a property tax search in their current town to see if they own any property and have them served at that address. \n\n"most lawyers will give you thirty minutes to figure out of you've got a case or not (they're looking to see if they can make money with it). "  Oh please ... time is money and no one gives money away for free.  These types of matter are NOT taken on a contingency basis.  Very few cases are taken on a contingency basis, and 95% of those are personal injury matters or workers comp.  Those are the only two matters that are virtually guaranteed to get a free consult.
151186
What you are referring to is for primary residences after people have lived there for 2 years... This does not apply in you situation.\n\nWhat does apply is a procedure known as a 1031 exchange.  1031 exchanges allow you to totally defer your capital gains tax by reinvesting the proceeds of your sale into another 'like kind' property.  (like-kind refers to the other property being investment use as compared to personal use).\n\nI'm finishing up the testing on a 1031 exchange site.  The information is real, and many of the test properties are available listings as well.\n\nFeel free to check the site out for the basics on a 1031 exchange.
585642
If a company is offerring you zero down on a list of foreclosed properties that they have in inventory, they are usually offerring something called "lease purchase option". Which means you pay a non-refunable option fee to lease a property. A portion of your payment gets applied towards your down payment should you decide to buy the place. It's an excellent program for people who have bad credit, but the drawback (and what they are hoping for) is if you ever miss a payment, you no longer will be able to purchase the property. If you ever do something like this, always record your option to protect your interest in the property.\n\nFind out how the program works and e-mail me. I will tell you exactly what they are doing and what to watch out for.  When it comes to creative real estate investing, I hold all the cards.\n\nRegards