Q: One of my neighbors has placed his condominium up for sale. During the last eight years he’s battled the association about a special assessment and has told everyone he’ll never pay it and it’s in collections. He’s proud that there’s a lien on the property. He’s gone to the Nevada Real Estate Division, gotten his own attorney and even contacted the city. But now he’s tired and “doesn’t want to fight it” anymore. No one on the board will talk about it, so we’ve only heard his side and don’t know if he’s telling the truth. I’m worried that no one will want to buy his condo because of the lien. How will they know that everyone else paid the assessment and all the work was done years ago? If there really is a lien, a new owner may think there’s a current problem.
Real Estate News
I read your weekly column but I didn”;t think I”;d ever needed your advice. I and several of my neighbors received letters peremptorily demanding that I paint my house. I painted the house less than three years ago in the original colors. My next-door neighbor painted her house the day before I did, using the same painter. She did not get a letter. I can see no deterioration in my, or another neighbor”;s house paint. I have 30 days to appeal this. I have attached a copy of the letter.
Before you make an offer on a house, it pays to ask a handful of questions. While the answers might scare you off or make you rethink your bid, they could make you feel more confident that you”;re making the right move on the right house.
Forget about buying a vacant piece of land or an empty lot in a resort area. Empty land produces no income, ties up your money and requires tax payments. Even experienced investors get burned sometimes. Land is not the right investment for beginners.
Here are 10 turnoffs that sellers should avoid.
If you want to buy a condominium with an FHA-insured mortgage, be aware that the path isn’t as smooth as it could be.
Homebuyers can thank Apple for this week’s dip in mortgage interest rates.
May kicks off National Historic Preservation Month and the Nevada Preservation Foundation has expanded its second annual Vintage Vegas Home & History tour to two days this year to be held May 7-8.
My homeowners association has limited rental restrictions in our complex. I have lived there for 10 years. I bought in 2005 and am upside down in my mortgage. I am a young, single female, college graduate. I am wondering how I can get around this rent restriction if say, I should marry and move away, or if I should find a job out of state.
Millennials who are paying high rent and making student loan payments might find it daunting to save to buy a house. For some, it’s impossible. Others might be able to do it if they have the discipline to set aside money rather than spend it.
