Ask the exact amount of maintenance fee that tenants should pay
Unlike owning a house, paying a monthly fee is one of the many common rules of owning a condominium. Aside from monthly mortgage payments, these monthly fees are usually used for the maintenance of the condominium, such as its parking spaces, repaints, cleanliness, as well as security. Asking the amount of monthly fees beforehand is very important if you don’t want to find yourself in a very huge debt. In the Philippines, monthly fees could range from hundreds of Philippine Pesos to thousands of Philippine Pesos, depending on how popular and how big the philippines properties for sale such as condos are.

Examine every nooks and crannies of the whole condo
Don’t be satisfied with the samples of pictures as well as samples of their condo units they show you. Ask if you could go to one of the condo units for sale. These units, although not entirely ready for living, especially because it lacks the necessary items such as a bed, sofas or decorations, are the perfect places to examine if all are well and organized. Check if the water is running smoothly. Check if the walls have cracks in it. Aside from the interior, also check out the exterior if everything is properly maintained.

Ask if you could get a financial statement of the board
This is important, not only with condos but also with other philippines properties for sale. Checking on their financial statement allows you to look at some of the things that the board does with the monthly fees they’re getting. If it really goes into the maintenance of the condo units or just in their pockets.

By Archie Lopez

Among the different real estate options in the market, one of the most popular is the condominium. This is because condominiums have distinct features that make them the ideal option for certain types of buyers, which include single people and retirees. Moreover, there are also a number of advantages in owning condos instead of stand-alone homes, which have also added to their popularity. However, as with other types of properties, there are also different types of condos that buyers can choose from that cater to different requirements and preferences. People who are considering buying a townhouse would do well to look at the different features that each type of condo has so that they can pick the type that would best fit their needs.

Types of condos

Some of the most common types of condos include condominium apartments, condominium townhouses, and freehold townhouses, which all differ with regard to their structure and the type of ownership regulations that come with buying them. One distinct difference is that with condo townhouses, people are given more “freedom” as compared to condo apartments, as some condo townhouses are built in a way that people get t have their own small yard and garage spaces. However, apart from these differences, almost all types of condos provide the same environment given that condominium living is all about communal living, which involve sharing common spaces and following common rules.

Evidence to this is the fact that almost all condominium properties have a homeowner’s association, which is responsible for the maintenance of the units and the implementation of the agreed rules among unit owners. The only drawback to this kind of set up is that there are cases wherein homeowner associations tend to promote uniformity among unit owners, which makes it hard for some homeowners to personalize their homes because there are rules that discourage them from doing so.

Among the different types of condominiums in the market, one of the most popular is the condo townhouse, as it provides homeowners with more freedom as compared to condo apartments. However, apart from slight differences, almost all types of condos provide the same communal living environment bound by rules. Given this, homeowners also need to consider the rules that the homeowner’s associations have put in place in the condominium property that they are interested in, as this can help them assess whether they can live with such rules or not.

By Jimmy Sturo
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When selling residential real estate, you’ll want to remain competitive in today’s buyer’s market. People have high expectations of property and if you can’t meet their demands, they can easily find a better deal elsewhere. If you need to sell your home quickly and don’t want to lose money on your investment, here are some things you need to know to ensure a stress-free transaction.

1. The longer your home remains unsold, the less people are willing to pay.

If you’ve ever opened up a residential real estate pamphlet and noticed homes with large slashed prices, there is a good chance these have been sitting on the market for months without many potential buyers. Although the reasons for a lengthy sale period may be reasonable, most people will assume that the home is a bad deal. What to learn from this? Stubborn homeowners will suffer for their patience.

2. You need a real estate agent to help you market your property.

There is a glut of affordable residential real estate. The market is oversaturated. So you need to stand out in the crowd, and the best way to do that is a massive and effective advertising campaign.

Good quality ads that appear in many different real estate booklets and an agent that knows how to spread the word will help speed up the process. It’s also helpful to tell all of your friends, relatives, and anyone who will listen that you have a great piece of property for sale. Word of mouth is free and a useful advertising technique.

3. Don’t expect to walk away with your initial asking price.

Gone are the bubble days when you could expect a bidding war on your piece of property. Today, expect intense haggling and plenty of compromise. A residential real estate specialist can help guide you through the process to help you reach a reasonable deal. So when you do set the price for your property, be prepared for it to drop considerably.

It’s also best to have a professional negotiate for you and report back to you. Buyers may feel nervous or uncomfortable speaking directly with the owner and you make take their feelings about the home too personally.

4. Get the papers reviewed by a professional.

Even if you insist on not using a residential real estate specialist to help you sell your home, you should have all contracts reviewed carefully by professionals. One small mistake or typo could cost you a fortune. Safeguard yourself from potential lawsuits and loopholes.

5. Research the market before you begin to prepare for sale.

Perhaps you think those pink marble kitchen countertops are fantastic, but you may turnoff many potential buyers. Make sure your home appeals to the widest audience as possible to help your chances of quick sale.

Take a look at popular properties, visit an open house and discreetly interview the buyers, and pick a successful real estate agent’s brain. Seeing what works and what doesn’t in action can help you prepare for your own open house or buyer visit.

By Andrew Stratton

Luxury and grandeur

That is what living in condominiums is all about. Given the expensive cost of owning a condominium unit, you might as well say that it is ideal for individuals who have a lavish lifestyle and earns a good salary.

A condominium is a complex structure composed of individual units, which are often referred to as ‘condo units‘. Unlike apartment-type complexes wherein individual units are for rent, condominiums are leased for sale. These units may be renovated apartments and townhouses or even warehouses previously used for commercial purposes.

Individuals or families who have purchased units in a condominium own everything from the walls of their units inwards. Individual condominium unit owners share rights to common areas inside the premises like elevators, swimming pools, hallways, and clubhouses. The maintenance of these common areas becomes the obligation of the condominium association, which is composed of individual owners. Every owner have their share of interest in the association, adhering them to make monthly due payments or so-called ‘special assessment fees’ for huge maintenance problems.

Condominiums provide an alternative lifestyle for many individuals especially those who want to be independent and have their own place that they can call home. Contrary to popular belief, there are condominiums that are affordable. They cost less than paying for conventional home purchases. It is quite cheaper compared to building your own home from ground up. This kind of living quarters is ideal for young professionals as well as small families. In addition, it provides essential amenities such as round-the-clock security and low maintenance (since you own a small portion of the whole condominium).

However, there are certain disadvantages of living in a condominium. There is a lack of privacy in common areas where every homeowner has their respective shares of interest. Condominium arrangements are not the best options for individuals who prefer owning all the amenities and want to maintain their own lawn and garden. In this case, they must pursue single home ownership. Moreover, it is also difficult to sell a condominium unit compared to a conventional home. Remember that you only own the unit and not the ground beneath it.

Despite of the aforementioned disadvantages, there are still individuals who prefer living on condominiums. They do not mind having close neighbors at all and they do not want to be bothered by the responsibility of the lawn or other external maintenance matters. And since the total price of purchasing a condominium unit is relatively lower than an equivalent single-unit home, there are many individuals who are tempted to take this cost-efficient advantage.

Apart from the overall price and amenities available when you decide to live in a condominium, you must be aware of the reality that your stint in your unit may be affected by the condominium association’s decisions. Such decisions may be made in regular meetings that can cost an individual unit owner more money, and is virtually impossible to avoid being affected by at least a single decision. It is encouraged that you actively participate in the association’s meetings and forums. Living in a condominium is financially advantageous than apartment rentals, yet it will require your active participation in community-related events.

Luxury and grandeur? That was living in a condominium before. Today, you have the financial advantage of owning a place you can call home. Just a reminder: be active in the association and cooperate with your co-owners. That will start your wonderful experience living in a condominium.

You may want to sell your home as it is, but will anyone buy it? If so, will they be willing to offer you what you want for it? These are important questions to take into consideration. You need to make every attempt to repair what needs done before you list a home for sale. This way you can get it off the market fast and you can get a decent price for it.

Most consumers don’t want to buy a home when they can readily see problems with it. First, they don’t want to have the hassle of taking care of such problems as soon as they are ready to move in. Second, they may not have the skills to do the repairs or the money to pay for them. It can be expensive to pay for professionals to complete certain types of work. Finally, they may not know the depth of the problem and they don’t want to get in over their heads.

For example if you have a water leak under your kitchen sink you may not sell your home. More people are going to pay attention to those types of things than you think. They may not know anything about plumbing so they assume it is very expensive for a professional to fix. They also don’t want to have to worry about the flooring underneath being damaged or pipes that need to be replaced.

Even if someone does make an offer on your home, it may not pass the initial inspection if certain repairs aren’t taken care of. The inspector can document what needs to be taken care of. Then the buyer and the seller will have to decide who will do the work and who will pay for it. This process can be difficult and it can also be time consuming. Your closing date can be delayed by several weeks while all of these details are being worked out. Plus the inspector has to come back again to make sure what he or she documented has been properly taken care of.

If you don’t know how to do the various types of repairs that need to be done, find someone that can. You may be able to pay someone you know less than a professional for good quality work. Just make sure they are reliable and that they will get the job done in a reasonable time frame. You can also trade services such as painting your friends house if he comes to take care of some plumbing concerns for you.

Some people take the stand that they didn’t do these repairs when they lived there. They don’t think it makes sense to do it when they are trying to move out of the home. Yet this can be why some of these same individuals end up with a home that is on the market for a year or longer. They just don’t make the connection as to why their home isn’t one that others wish to buy.

In addition, the longer such problems linger the more expensive they are going to become. For example you may need to replace some shingles on the roof. Failure to do so can result in the roof leaking and then you have more expensive problems to take care of. While making such repairs may not be fun, they are a necessary part of you being able to sell your home rapidly.

If you are in a hurry to get your home ready, consider using a couple of vacation days from work. Add them to the beginning or end of your regular days off so you have a block of time without interruptions to get the majority of the work completed. It will take less time than if you try to do it after work or just on the weekends.
By : Paul Sharp
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