Finding your home starts with arming yourself with knowledge. As highly educated professionals local professionals, we’ve taken time to thoroughly research, detail, and explain the nuances of the different neighborhoods in our areas.
The first step in finding a home is to select the right neighborhood. Becoming a home owner has many legal and financial ramifications. It may not be prudent to choose an agent on “personal connection” or because an agent is “nice”. Just like lawyers and doctors, the best agents are equipped with specific knowledge of the area and understands the legal consequences of contract documents.
As an attorney who grew up in the area, Kevin understands and explains the repercussions and ramifications of all contract documents. From contingencies to liquidated damages, Kevin walks buyers through the nuances and meaning of all parts of the offer process. While no agent is right for everyone, Kevin believes that experience, expertise, education, and specialization all contribute to success.
What should I know before buying a condo or townhome?
Purchasing a condo or townhouse typically means ownership in what is known as a common interest development (“CID”). When a buyer purchases a unit in a CID, the buyer is either purchasing a pro-rata (fancy word for proportionate) share of the common areas of a complex or the buyer has an interest in a homeowner’s association that owns the common area.
In either scenario, this usually means that the buyer will be required to make monthly payments, also known as regular assessments or homeowner’s association dues, to pay for maintenance of the common areas. But what happens if a complex or community suddenly needs to replace a damaged roof from an unexpected storm or update an aging fitness center? These types of unexpected expenses may call for special assessments. Special assessments are funds in addition to regular assessments that an association finds is necessary to address special or unexpected repairs or additions for a complex.
CID’s also may have special rules and regulations like architectural requirements, limitations on pets, and age restrictions (ie. senior housing).
What does buying a condo or townhome mean?
Part of the appeal of buying a condo or townhome is the ease of maintenance for upkeep of the home. The fact that an association maintains and cares for landscaping and exterior features means less hassle and worry for an owner. However, this convenience also means that an owner must follow certain rules, and violation of rules can lead to violation notices or possible fines from an association. As you can imagine, failure or improper disclosure of important information related to a homeowners association can lead to conflicts, and potentially litigation, between a seller and buyer. Thus it is important that a seller fully disclose all necessary documents related to ownership in a CID. In addition to regular disclosures that are legally required in residential transactions, California resale of a unit in a CID requires additional disclosures including:
1. Copies of all governing documents of the development:
2. A statement describing restrictions in governing documents limiting the occupancy, residency, or use on the basis of age;
3. A copy of the most recently distributed annual budget report;
4. A statement from the association regarding the associations current regular and special assessments and fees as well as any assessments or fees specific to a unit that has not been paid;
5. A statement of any notice previously sent to a seller related to any alleged violations of rules that have yet to be resolved;
6. Whether there is any current litigation between the builder of the complex and a homeowner’s association with a copy of any alleged defects;
7. Any settlement agreement between a builder of a complex and the homeowner’s association including a description of any defects the association believes to be present and when such defects will be replaced;
8. Any change in a homeowner’s associations current regular and special assessments and fees which have been approved that have yet to become due and payable;
9. Any provisions in governing documents that prohibit the rental or leasing of units including a description of the restriction and how it applies;
10. A copy of homeowner’s association board minutes conducted over the past 12 months if requested by a prospective buyer.
There are many benefits to owning a condo or townhome including ease of ownership, uniformity in design, and affordability. Some find a sense of comfort in knowing that they can rely and count on a group of other people to share in what may be increased costs due to unexpected events. However, this comfort also calls for increased diligence when either selling or purchasing a unit.
We start with professional photos. Our photographers have worked for national publications including Vanity Fair and the New York Times and it shows. The popularity of social media and online portals means 90% of homebuyers start their search process on the internet. This is why we make sure the photos displayed on the multiple listing service and online are of the highest caliber, drawing more traffic to your home.
Video of your home
If a picture is worth a thousand words, a video is worth a million. Our videos of homes and the surrounding area provides potential buyers with details of a home that is hard to replicate in photos. Our videos draw out and emphasize the unique characteristics that help with last minute decisions to submit a strong offer. Videos allow buyers to visit properties before or after viewing a property from the convenience of their home. They can see the property again at their convenience, and be confident when making that last minute offer.
In conjunction with our photos and videos, we also provide an immersive 3 dimensional tour of your home. Buyers can take a step by step trip through the home without ever having to set foot in it. They are free to roam and explore the home for as little or as long as they want, all without having to contact an agent to arrange a showing.
Full Color Listing Brochure
Our full page color listing brochures provide buyers with critical information they look for when deciding to make an offer. The high quality photographs and information remind buyers why they visited properties to begin with, and make our properties stand out amongst piles of brochures after what can sometimes be numerous open house visits.
In today’s digital world, our team understands that buyers start their search process online. This is why we provide each property with a unique website. Our in depth online marketing and advertising drives traffic to this site where potential buyers can find further details about your home.
Google and Facebook Ads
To make sure our properties reach the most relevant audience, we harness the power of targeted advertising through Google and Facebook ads. We make sure your property is seen by the most likely demographic by location and age to purchase your home.
Our track record of home listing preparation, marketing, and proven negotiation skills means that our listed homes consistently sell for more. In apples to apples comparisons of listed homes, our past sales have consistently sold for higher prices in shorter days on market.
Every seller wants the same thing – the best possible price with the least amount of hassle. Kei Realty was formed to exclusively assist home owners achieve the highest possible sale price.
We achieve this by combining a complete understanding of everything involved in the home sale process together with critical services needed to sell a unit for the highest sale price, even if we have to foot the bill.