House Buying Tips

Key Takeaways Townhouses are typically fee-simple ownership (you own the land); condos are typically unit ownership only — the exterior, common areas, and land are owned by the HOA. Condo HOA fees are generally higher than townhouse HOA fees because they cover more of the building’s maintenance; both should be factored into the monthly housing

Key Takeaways Rent-to-own (lease-to-own) allows a buyer to lease a property with an option to purchase it at a pre-agreed price at the end of the lease term. A portion of each monthly payment (the ‘option credit’) may be credited toward the purchase price — the exact amount and conditions should be clearly specified in

Key Takeaways A probate sale occurs when a property is sold as part of settling a deceased person’s estate — either to distribute assets among heirs or to pay estate debts. Probate sales typically take longer than traditional sales (3–6+ months) because the court must approve the sale price and terms in most jurisdictions. Properties

Key Takeaways The FHA 90-day flip rule blocks FHA loans on properties that the seller has owned for less than 90 days from the last recorded deed. Exemptions include HUD resales, inherited property, employer-relocation sales, properties from non-profits or government, and studio/production-company sales. Between 91 and 180 days of ownership, FHA appraisers scrutinize the resale