When it comes to searching for a home, there are a lot of factors that you have to consider. This is especially the case if you are shopping for condos, as you will be sharing a lot of common space with your neighbors as well. The first thing to look into is the overall interactivity that goes on within the block of condos you are considering to make your home. In most cases, it is always better to find a condo that has an interactive community, because this in turn means that you never have to worry that someone might not be doing their part in keeping the block of properties maintained and in good condition.

One thing to be careful of is that some communities do not allow pets, and so if you are looking for a condo for you and your pets, then you need to make sure that the community has no problem with this. In the end, you have to find a condo that is able to be comfortable to live in, and where there is the least amount of stress. While it can be very beneficial to live in a community, it can at times be stressful if you are not one to go by strenuous rules. For some people, the idea of owning a home means that they have the freedom of choice to do what they want in their property.

One of the most important things to look into when buying a condo is the condo fees. What are they and what will they be down the road? Are they set condo fees, or could they become too costly to pay down the road? Some condos fees go up to the point that makes the great price you got on the condo not look so great because of what you are paying in taxes and condo fees. One of pluses of a condo is no maintenance and a lot of people really like that especially in your later years when you don’t want to mow the lawn or shovel the sidewalks. A condo is a great option for many buyers and you can generally get into a condo for a fair price.

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If you are a buyer or a seller in a real estate transaction and represented by an agent, that agent owes you fiduciary duties or loyalty. Often times agency is contracted (also known as express agency) but other times it can be implied. In any case, there is an acronym to remember those duties: OLD CAR.

They are:

Obedience:

The agent must obey their client’s instructions. As long as their instructions are not illegal and are in accordance with the contract.

Loyalty:

The agent must be loyal to their client and keep their best interests ahead of those of any other party. Commission, how it is disbursed, competing offer situations, and anything having to do with the sale must be disclosed.

Disclosure:

Disclosure laws in many states require a real estate agent, whether in an “agency” capacity or not, to disclose material facts to their client. Material facts are those that, if known by the buyer or seller, might cause them to change their purchase or sale actions.

Confidentiality:

Confidentiality means that the agent does not disclose anything about you as the client (your business, financial or personal affairs or motivations) unless expressly directed by the client. This duty survives closing and lasts forever. Only a court instruction to disclose can relieve the agent of this duty.

Accounting:

The agent is to promptly report to the principal all money and property received and paid out. Accounting for all documents and funds in the transaction is a fiduciary duty.

Reasonable Care:

The agent is required to have a certain level of knowledge and protect the principal from foreseeable risks of harm. If it’s not something the agent is expected to know, they should recommend that the principal obtain expert advice or assistance when the principal’s needs are outside the scope of the agent’s expertise.

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