Buying Myrtle Beach Condos For Sale? Check The HOA First

Buying Myrtle Beach Condos For Sale? Check The HOA First

Myrtle Beach Condos For SaleIt is important that you check the HOA first before you consider deciding which Myrtle Beach condos for sale to buy. It will save you a lot of money and time if you learn more about how the HOA or homeowners’ association of the condo you are considering purchasing are running things and operating the entire condo building.

There might be policies and/or regulations that you don’t agree with. And you don’t want to learn about these after you’ve bought the condo unit. Because you would then have to either learn to live with these rules and regulations or look to resell the unit as soon as after you’ve bought it – which might not look appealing to potential buyers.

What about the homeowners’ association?

A condo’s homeowners’ association is generally the governing body responsible for determining the monthly dues you will have to pay on top of your monthly payment for the condo unit. They are also responsible for allocating the dues they receive from the condo unit owners in different aspects of the building’s maintenance – i.e. insurance costs, necessary repairs and required building upgrades, and expenses on cleaning and maintaining the common areas.

In line with their responsibilities for building maintenance, they are also responsible for setting up rules and regulations that all condo owners and occupants should abide with. This may include restrictions in bringing pets inside the building, curfew hours, and the operating hours for the swimming pool. These rules may depend on the neighborhood where the condo is situated.

The HOA of various Myrtle Beach condos for sale have different rules and regulations and may implement different policies regarding payment of the HOA fees. They may also have different types of reprimands for those who delay their payment of HOA fees.

According to industry experts, it helps if you join the HOA of the condo unit you are considering buying before you actually pay for the unit. This will help you learn more about the governing association. Most condo buildings allow potential buyers to join the HOA in advance or attend one of their monthly meetings.

Here’s a list of things you might want to ask when you attend one of the HOA meetings of the Myrtle Beach condos for sale you are considering buying:

  • What are the monthly dues? Do you accept automatic debit payment?
  • Can I ask for a copy of your CC&Rs (covenants, conditions, and restrictions) and bylaws? – Note that this will help you have a deeper understanding on the rules and policies, allowing you to decide whether or not you can live and abide by them.
  • Have you made any special assessments in the last three years?
  • Can I ask for a copy of the latest budget assessments and minutes of the most recent meeting?

Spending time to get to know the condo unit’s HOA before deciding to buy or not would surely save you lots of money down the road. If you have questions or want to learn more about this, contact a Myrtle Beach condos for sale agent at Jerry Pinkas Real Estate Experts now.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577

Your partners in finding the best Myrtle Beach condos for sale.

How To Buy Waterway Condos For Sale Like A Pro

How To Buy Waterway Condos For Sale Like A Pro

Waterway Condos For SaleThere are lots of things to consider about waterway condos for sale. If this is your first time to buy, you should know that you’ll be looking at different living spaces, maintenance requirements, amenities, and security as compared to the average single-family home. A condo unit and a single-family home are different in lots of ways. It is important that you spend time looking at each of these differences to ensure your buying process flows smoothly and flawlessly.

Here are some of the top considerations you have to make when buying waterway condos for sale.

1. Taxes
There’s little contrast between the property assessments surveyed to a condominium townhouse or a solitary family home. For assessment purposes, townhouses are seen as partitioned units, despite the fact that most of them are in the same building. The property value and rates are evaluated similarly as with the average real estate property. Charges paid to either condominium or property holders’ affiliations are not tax deductible. With both sorts of lodging, home loan investment and property assessments might be deducted.

2. Funds
If you are a first time buyer and don’t have enough funds for your condo purchase, you can consider seeking FHA financing. The Federal Housing Administration (FHA) allows a first time home buyer to purchase real estate while paying only a small portion of the required down payment. Keep in mind that the FHA requirements for buying a single home are different from buying waterway condos for sale.

3. Protection, security, insurance
In terms of real estate insurance, owners of condo units are considered more privileged. This is primarily because of the fact that they only need to get insurance for what’s inside their unit, for example, the furniture, the kitchen and shower apparatuses, and the deck. The exterior part of their units including the basic zones, structure, and the outer surface are all secured by the condominium affiliation’s building insurance policy. Single-family homeowners, on the other hand, are required to insure the entire property, including land and structure.

4. Owners’ associations.
There are not many differences between a homeowners’ association and a condo association. Both are under the ruling guidance of the developer and consist of a board of directors made up of the owners of the single family homes in the neighborhood and the condo units in the condo building. As a condo owner, you are required to join the condo association.

Need help finding waterway condos for sale? Call Jerry Pinkas Real Estate Experts now.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577

Helping you find the best waterway condos for sale.

Should I Go Ahead With Oceanfront Condos For Sale?

Should I Go Ahead With Oceanfront Condos For Sale?

Oceanfront Condos For SaleIf you are considering buying a new home, you are probably looking at oceanfront condos for sale. The best part of living in oceanfront condos are the different ways you can profit from this investment aside from living near the beach. In fact, you can rent the unit out during summer or the peak season. Alternatively, you can use it as a vacation house and rent it out throughout the rest of the year.

On the other hand, condos are not for everyone. And like many other types of investments, it involves a serious financial commitment. Hence, it is highly recommended that you obtain sufficient information about the condo units and associations before signing any contract and paying any amount of money.

Here are some of the things you may want to learn about oceanfront condos for sale:

  • Condominiums are more than a single unit within a larger building. Condominium is a form of real estate ownership; thus, it is not limited to condominium buildings. They can also be apartment buildings and townhomes.
  • Condominiums are ruled by a condo corporation or association that is made up of the unit owners. Unit owners elect who will be in the condo building’s board of directors.
  • When buying oceanfront condos, you are not only buying the actual unit you paid for. You also bought a share in the ownership of the common features in the building such as hallways, fitness facilities, grounds, ballrooms, elevators and others.
  • As the owner, you are required to pay additional fees aside from the monthly fee that you agreed with before signing the contract. These fees will cover unexpected repairs cause by natural disasters or accidents.

Questions to ask yourself to determine if you should buy oceanfront condos for sale

If you are still unsure whether or not oceanfront condos are where you should invest in, the following questions might help you get a clear understanding of your personal goals.

1. Do I have sufficient finances?

Aside from the monthly fees, you are also required to pay for the unanticipated repairs and damages to the building particularly the common elements. Additionally, you also have to be prepared for changes in interest rates and fees. These may increase or decrease depending on current market conditions.

2. Am I ready for my responsibilities as a condo owner?

The responsibilities of a condo owner are different from that of a homeowner. You need to spend time to learn your responsibilities. Make sure you understand them and will be able to commit to them.

3. What amenities do I need and don’t need?

When assessing which condo unit to buy, among the many convincing factors you will have to consider are the amenities included in the condo building as well as those available near the building.

At Jerry Pinkas Real Estate Experts, you can find real estate agents who specialize in oceanfront condos for sale. These professionals are more than able to help you decide which condo to buy. Call them now to inquire about their services.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577

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4 Aspects To Focus On When Selling Your Myrtle Beach Condo

4 Aspects To Focus On When Selling Your Myrtle Beach Condo

Myrtle Beach CondoIn the real estate industry, most professionals will agree that selling your Myrtle Beach condo is different from selling an average house or any other real estate property. This type of selling transaction involves more steps and processes. And because no two condo units are the same, not all selling process follows the same set of rules. Despite these, however, many investors continue to buy and sell condos because of the many financial benefits it brings.

To ensure that selling your Myrtle Beach condo will be successful and that you will gain financial benefit from it, here are the top 4 aspects you will need to focus on:

  • Special assessments in condo fees

Confirm with your condo building’s board of directors any special assessments levied or to be levied on your unit. Make note of the date when the levy was made or will be completed. Inquire about any planned increases in the condo fees in the coming future. You will need to inform potential buyers about all these details.

  • Occupancy restrictions

Another important information that your buyers should know about are all the occupancy restrictions. These include whether or not pets are allowed inside the building, whether or not renting to students are allowed, whether or not a unit can be used as a business office, and many others. You should inform potential buyers about any restrictions that the condo association implements regarding occupancy. This will clarify any misunderstandings between you and the buyer and, thus, will ensure smooth transaction.

  • Unit maintenance and repairs

Before listing your Myrtle Beach condo for sale, find out what types of repairs it needs and confirm with your condo building association if it’s included in their responsibilities. You see, some condo building associations should the expense on maintenance and repairs of each unit. Others only pay for roof maintenance while others still include maintenance and repairs of the unit’s windows and doors. Confirm what types of repairs your condo building association is responsible of. Use this information to set your asking price. You would also want to pass this information to your potential buyers so they will know how to maintain the condo unit.

  • Hiring a real estate agent

The best way to ensure a successful transaction is to hire a real estate agent with experience in selling condos. If possible, find one who has experience selling – and has successfully sold – condo units similar to what you are selling. A real estate agent will help you get all the information you need to sell a condo and to find potential buyers who will take good care of your condo unit.

Call Jerry Pinkas Real Estate Experts now and find highly experienced real estate agents to help you sell your Myrtle Beach condo.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577

Helping you sell your Myrtle Beach condo successfully.

The Best Tips That Will Help You Sell Condos For Sale Fast!

The Best Tips That Will Help You Sell Condos For Sale Fast!

Condos For SaleThe numbers of condos for sale in the market today are continuously increasing. If you are trying to sell one, this will indeed be a problem for you. It is already difficult to sell a condo without the tight competition brought by the thousands of other condo units for sale in your area. So what do you need to do in order to sell your condo quickly?

Here are some valuable tips to help you sell condos for sale fast:

Find the perfect timing to sell your condo
Sometimes, it doesn’t matter how attractive or big your condo unit is. Sometimes, it all comes down to when you decide to sell your condo. Most common belief is that the best time to sell a property is during spring. On the other hand, historic trends and patterns have long since changed. So this doesn’t entirely ring true today.

In determining when to sell your condo, it is highly recommended that you consider the specifics and current market in your local area. The current condition of the condo market in your area will help you identify the best time to put out condos for sale signs. It is also helpful to keep in mind that different areas and communities have different periods when condo prices are competitive and aggressive.

Contact your real estate agent and seek professional advice or assistance in determining the best time to sell your condo units.

Learn to de-clutter the unit before making open house invitations
Buyers will become more interested in buying your condo when they see its entirety and have a quick tour around the unit. Regardless of the unit’s size, it is important for most buyers to inspect the unit first before paying any amount.

Considering this, you will need to prepare the unit before making an open house invitation. To do this, you must learn to de-clutter the unit. Remove all unwanted accessories or displays in the unit. Check all taps, cabinet doors, windows, and lighting if they are clean and in good working condition.

Always remember that when a buyer sees the condo unit in good condition and very well-maintained, the buyer is then more than likely to negotiate the price and eventually buy the house. Plus, it will be easier for you to sell the unit and convince the buyers when they see how beautiful and maintained the unit is.

Accentuate important and strong features of the condo unit
One of the keys to selling a condo unit fast is to highlight one of its strong features that will motivate buyers to purchase. You can choose from several features to highlight; however, the best one could be the ease of owning a condo unit. Buying a condo unit will provide any individual a carefree lifestyle without the stress and pressure that comes with maintaining a single-family detached house.

You can also opt to highlight other benefits that condo owners receive including instant and immediate access to the condo building’s amenities: fitness centers, sports arena, lounge and entertainment areas, and covered parking. If you want to accentuate the features of the actual condo unit, walk through it with your real estate agent and decide together which areas have the most features and benefits.

Set your desired price and bottom-line price
It is important that you set your desired price and bottom-line price as soon as you decide to sell your condo. This will help you find the best price for your unit. You can determine these by assessing recent condo prices and statistics in your area. You can also have your real estate agent or hire a licensed appraiser to estimate the value of your condo.

Prepare disclosures
In order to avoid any problems with the buyer of your condo, you will have to disclose all potential problems that the unit has and repairs that are needed. You need to inform the buyer about the actual and complete state of the condo unit including all problems and repairs as well as any pending payments or unpaid fees.

For more information about condos for sale, call Jerry Pinkas Real Estate Experts now.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577

Your condos for sale experts!

Should You Invest On Myrtle Beach Condos For Sale?

Should You Invest On Myrtle Beach Condos For Sale?

Myrtle Beach Condos For SaleLots of individuals who want to profit from their savings would opt to invest on Myrtle Beach condos for sale without actually realizing what this is and how this investment would earn them money. And this is why most condo investments fail. Most people don’t take the time to completely understand this type of investment before they actually put in their money. They believe that it is as simple as choosing a fine and attractive condo unit to purchase, put it on the market as for rent and wait for the money to arrive. In reality though, it actually requires more work and effort than that.

If you currently considering investing on Myrtle Beach condos, you will need to determine first if this is really what you need and what you are looking for to earn additional income.

To help you with this, here are some questions you should ask yourself.

Are you planning to spend as little time as possible in maintaining your real estate investment?
If you wanted to spend more time in developing and nurturing your investment and less time for maintenance and actually cleaning lawns and yards, then you really should go for a condo investment. Most condo buildings don’t have lawns and yards so you don’t have to worry about cleaning and maintaining your own yard so as to make the unit more beautiful to potential renters. You also won’t have to think about cleaning communal areas as this is the responsibility of the condo building owner. Although, you are responsible for cleaning everything inside your condo unit, you won’t have to regularly clean it if you don’t have the time. You can opt to schedule overall cleaning and maintenance a couple of days before a potential renter comes by to check out your unit.

Do you want to have immediate access to additional features such as spa, fitness center, and fully equipped recreation and sports rooms?
Unlike other forms of real estate investments, it is only through condominiums where you can have immediate access to additional features made available by the condo building owner. Yes, you won’t possibly have your own yard or lawn and you won’t be able to personalize every added amenity as your own but you get to access them anytime you want. Plus, it is a good way to establish a strong rapport with other condo unit owners. This way, they can help you keep an eye on your unit when you are not around.

Some of the added features that you would surely enjoy include swimming pools, tennis courts and other sports arena, barbecue and picnic areas, meeting rooms, convention halls for parties and other events, spas and fitness center. One added feature that you and your potential tenant would truly benefit in is the tight security offered by the condo building.

Do you have enough investment funds?
Payment and ownership of real estate investments are relatively the same. On the other hand, it is cheaper to buy Myrtle Beach condos for sale. The reason for this is you as owner will be sharing ownership of the land and the building where you bought the condo unit; as oppose to a house and lot, which you have sole ownership of both house and the lot.

If your main purpose of investing on real estate is to earn additional income by renting the property, then it would be best if you buy condo units instead of single-storey homes. Condos will be much easier to rent provided you bought it at a tourist hot spot or near a famous landmark. Of course, it will also depend on how strongly you market the condo unit.

Buying a condo is not for all individuals. To avoid wasting your money, time, and effort, take time to consider and make sure that this is really the route you want to take.

Call Jerry Pinkas Real Estate Experts now for more tips in buying Myrtle Beach condos for sale.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577

Your Myrtle Beach condos for sale professionals!