Condominium/Real Estate Law Blog
Posted by Jeff Barnes on February 29, 2012
How can the owner of a house or real estate where a business is operated protect their property interests from a change in the zoning ordinance in the district where the subject property is located? Why does it ever matter? What…more »
Posted by Jeff Barnes on February 08, 2012
Once a contract of sale of a 1-4 family residential property is prepared by a licensed real estate broker and has been signed by both the buyer and seller, either party or both parties may elect to retain an attorney to…more »
Posted by Jeff Barnes on January 18, 2012
Lenders make financial decisions to lend money to borrowers in real estate transactions based on many different criteria, including debt to income ratios. So, if you submit an application for a mortgage and after submitting such an application and prior to…more »
Posted by Jeff Barnes on December 07, 2011
A purchaser of a condominium unit owns his/her condominium unit together with a defined percentage interest in the common elements, which are everything beyond the condominium unit. Each condominium complex is controlled by a master deed, by-laws and rules and regulations.…more »
Posted by Jeff Barnes on November 16, 2011
Title companies search public records relating to the subject property and then generate an opinion concerning the chain of title. Each title is different; however, every title contains information about the property owner and the property owner’s rights and interests in…more »
Posted by Jeff Barnes on October 26, 2011
1. Reserve Fund Requirements – Not having a reserve or an inadequate reserve is a red flag to Banks/Lenders. Today, 10% of revenue collected by the condominium association must be placed into a reserve account. The rationale is that if no…more »
Posted by Jeff Barnes on October 05, 2011
If you may think that a condominium unit inspection is unnecessary when contemplating the purchase of a unit, think again. However, a home inspector who just inspects a unit from the interior drywall inward is not enough. Although an interior inspection…more »