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The basics of condominium and homeowners associations

When looking for a place to buy here in Tampa, a community with "extras" may be just what some people want. In order to get those amenities such as pools, tennis courts and other common areas, those communities more than likely come with condominium and homeowners associations, depending on what type of housing an individual wishes to purchase. Most people have heard of these associations, but they may not understand what they are getting into when purchasing a home that comes with one.

These organizations do a lot of good things for the community. They keep up the common areas, make repairs and maintain the structures in the common areas such as the pool and they do what they can to keep everyone's property values steady or rising. On the other hand, boards can only do these things through the collection of monthly fees and special assessments. When purchasing a home in an area with such an organization, it would be a good idea to find out how much the monthly fees will be.

To avoid real estate scams, you have to spot them

One of the first things any potential buyer of a home needs to do is assess whether it is a buyer's market or a seller's market. That might be true in many parts of the country, but in Florida it is difficult to identify when the last buyer's market was. According to the Tampa Bay Times, we are entering prime selling season and existing homes are in very short supply right now. That makes for a seller's market.

Timing is always important whether you are a buyer or a seller. But if you are a buyer getting ready to make a purchase, and regardless of whether you are just entering the arena or consider yourself a savvy consumer, it is important to acknowledge that the process can be legally complicated. For the protection of individual interests, it's wise to have an experienced legal advocate at your side.

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