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Old 06-21-2010, 12:10 PM
 
Location: Bayshore Drive Newport Beach
77 posts, read 67,256 times
Reputation: 28

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Quote:
Originally Posted by smleemd View Post
We're thinking about buying a condo or townhouse in pasadena area.

What questions should we ask the HOA before putting down an offer?
We want to avoid any financial surprises.

Also, if a tenant is late in paying thier HOAs who eventually picks up the tab?

Thanks in advance for your advice!
Important Questions to ask:

Q1 Has there been any homicide known to you or your company regarding this property?
Q2 Has there been any security problems known to you or your company regarding this property?
Q3 Termites and White Ants Clearance Certificate
Q4 Is the property Insulated?
Q5 Is the property wired for internet or cable?
Q6 Is it close to public transport and shops or schools?
Q7 What are the by laws?
Q8 What are the upkeep costs?
Q9 Are there any caveat on this property?
Q10 Ask to see a copy of Covenants. (Covenants are restictions on you and your property)
Q11 Ask for Caveat registration against the property.

Make sure the property has no Caveat interest on it. If you paid for a property with Caveat against it you will lose your money and the property will never be yours.

Make sure the Conveyancing/Settlement Company you hire do their job properly by checking for Caveat interest against the property you are about to pay for.

TIPS check out what prices properties around you have been sold for. This will ensure you are not being ripped off by con man. Property Salesmen are weak and most of them are liars with a smile. They are worse than car salesmen.

Only buy properties near schools, shopping centres, public parks, and public transport. This will ensure you will get good resale value.

Last edited by NewportBeachGuy; 06-21-2010 at 12:30 PM..
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Old 06-21-2010, 12:41 PM
 
Location: Bayshore Drive Newport Beach
77 posts, read 67,256 times
Reputation: 28
The word caveat means beware, and the lodging of a caveat over a property is a way telling anyone who wants to deal with the property to be aware of the fact that someone else's interest already has priority. In other words, a caveat is a written warning to anyone who checks the Certificate of Title of the property that the person who lodged the caveat (known as the "caveator") has an interest in it. The Registrar of Titles cannot deal with the property without first notifying the caveator.

If you hate someone just put a caveat on their property
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