Over one third of the homes in the state of California are a type of common interest development (CID). In addition, almost all new housing developments in the state are CIDs.
Be careful not to judge a property based upon the appearance. You must look at the paperwork! There are stand alone homes that are actually part of HOAs. You have to look at the covenants on the property (also referred to as CC&Rs) to ascertain what of the four types of property that you might have.
The four types are community apartment, stock cooperative, condominium, and planned unit development / planned development. The real estate interest in each type is entirely different and you need to consider each type before you buy.
We will be covering each of the types in subsequent installments.
Be careful not to judge a property based upon the appearance. You must look at the paperwork! There are stand alone homes that are actually part of HOAs. You have to look at the covenants on the property (also referred to as CC&Rs) to ascertain what of the four types of property that you might have.
The four types are community apartment, stock cooperative, condominium, and planned unit development / planned development. The real estate interest in each type is entirely different and you need to consider each type before you buy.
We will be covering each of the types in subsequent installments.
To find out more about more about condos or real estate in Pasadena please visit our agent web site at http://www.DavidandPei.com or you can call us 626.922.4268 for a no obligation tour of Pasadena neighborhoods and its fantastic new construction and resale condos and townhouses.
No comments:
Post a Comment