All Forum Posts by: Francisco Gutierrez
Francisco Gutierrez has started 2 posts and replied 6 times.
Post: Fee Simple vs Leasehold
- New to Real Estate
- Santa Ana, CA
- Posts 6
- Votes 1
Originally posted by @Laura Myers:
@Francisco Gutierrez This is actually a great question! Leasehold properties are very different to purchase than Fee Simple (lending capability, expiration of lease, renegotiation of lease, etc). When a property is listed for sale, the basic facts of the lease such as the monthly lease payment, renog. date and expiration are usually in the details section. As far as looking it up prior to any listing, it would most likely be with the Bureau of Conveyances for land registry.
It is advised to seek an attorney should you purchase Leasehold. There are MANY MANY factors to consider when purchasing this type of property. You will be able to see the Lease in it's entirety during escrow and it will outline everything. In a nutshell- If you pay $400K for a leasehold condo and a similar condo is $750K Fee Simple, then personally I'd get the FS. You have to consider the monthly payment for the lease IN ADDITION to all other factors such as mortgage, maintenance fees, insurances, etc. Make sure to calculate what you're "saving" (if any) by going leasehold and also the risk to sell it again in the future.
This is awesome information - Thanks for taking the time to respond :)
Post: Fee Simple vs Leasehold
- New to Real Estate
- Santa Ana, CA
- Posts 6
- Votes 1
Hello Everyone,
I know this topic comes up from time to time but didn't see this asked so here goes...
Is there a way to lookup (county site?) the years remaining on a leasehold property (and other details) or is it something done once you have a realtor and then they ask the seller's realtor, etc.?
I have been looking at Maui properties to use as short-term rentals but its mostly been surface level and it seems like the leasehold details would make a HUGE difference in deciding whether or not to pursue further. Thanks in advance!
Post: Leasehold property in Hawaii
- New to Real Estate
- Santa Ana, CA
- Posts 6
- Votes 1
This thread has some great info - Wanted to know if there is a database or site that tracks the leasehold information for properties or is that something an agent would have to dig for?
Post: Maui Cleaning Services
- New to Real Estate
- Santa Ana, CA
- Posts 6
- Votes 1
@Mike Neubauer thank you for the candid information. This is just the type of info I need to make a decision. I chuckled at your "missing tv" remark but I can imagine you've seen all types of scenarios - especially the stressful ones. Many thanks
Post: Maui Cleaning Services
- New to Real Estate
- Santa Ana, CA
- Posts 6
- Votes 1
Post: Maui Cleaning Services
- New to Real Estate
- Santa Ana, CA
- Posts 6
- Votes 1
Hello All,
I wanted to know what one would expect to pay for cleaning services for a STR on Maui - Lets say a 1BR/1BA? Do you pay per cleaning or maybe a fixed monthly amount? I am in the early stages of finding a condo near Kihei and after reading (new/old) posts it sounds like your cleaning service is important - Just not sure on how much I should expect to pay. Thanks in advance