The Complete Guide to Purchasing a Condo, Townhouse, Or Apartment

Book excerpt: Offers a complete overview of these special, usually smaller, residences. It points out dozens of hints and suggestion as to what to look for as well as demonstrating the many mistakes common with these types of investments. You will learn how to find the best opportunities, to negotiate, finance, budget, handle pre-construction issues, set values, and make the offer. You will be able to define what you are buying (and what you are not) issues on your right to sell, lease, or mortgage. You will be prepared for restrictions pertaining to children, pets, parking, vehicles, boats, music, maintenance of windows, doors, screens, air conditioners, plumbing, club memberships, recreation facility leases, use of recreational facilities, and common areas. In addition, you will learn the advantages of using credit reports, home warranties, insurance, creative financing, closing procedures, moving plans, closing and settlement inspections, and certain legal contracts. You will have instruction in obtaining mortgages -- which government agencies can help, considerations for veterans, IRA use, hiring an attorney, calculating monthly payments, and establishing an escrow account. The real estate and mortgage glossaries alone are invaluable resources, even for the 'old hand' at property acquisition.