We are currently working with a client who is looking for condo under the $400,000 but has specifically said she doesn't want the condo to be under a land lease. A land lease is basically when a person or entity buys a parcel of land and then leases the land to another party for a period of time. Often times condos buildings and complete neighborhoods are built on this land but the residents never own the land and also have to pay a monthly fee to the owner of the land. Sounds like a pretty good deal for the owner of the land. It also can be a more affordable option for buyers looking to find a place to live as these types of properties are typically priced below other comparable buildings that are not on lease land. The fear of the land owner not
…August 2018
Found 1 blog entry for August 2018.