Buying a Second Home
WHAT YOU SHOULD KNOW
ABOUT BUYING A SECOND HOME
By: Robert M. Meisner, Esq. Many of you have already or are considering the purchase of a
second home, presumably in a locale with pleasant year round
temperatures. Buying a condominium or a second home in a
location other than where you live as a primary residence can
offer interesting challenges. There is always a tendency to buy
on the spur of the moment while on a vacation or in an otherwise
relaxed state. The tendency is to overlook some of the basic
attributes that one should consider in purchasing any real
estate regardless of its location.
Buying a second home in California or Arizona, by way of
example, requires the same degree of expertise and insight as
would be the case in the purchase of any other type of
residence. Indeed, my experience over the years has been that
absentee ownership creates additional problems for the
prospective purchaser. First, you may not be familiar with the
laws of the jurisdiction in which you are involved and relying
solely on a real estate broker may not be enough to satisfy the
particular legal requirements of the purchase. Additionally,
when buying a condominium, by way of example, you must consider
all of the issues relevant to the normal purchase of a condo,
including the deed restrictions which may impose limitations on
your ability to have animals, to lease the unit, or to make any
modifications to your condominium unit. Additionally, as with
any other situation, you must be as fully apprized as much as
possible of the economic conditions surrounding the developer
and/or the Community Association, itself, in which you are
becoming a member. Is the Association in litigation with the
developer or are there other issues that have arisen which could
adversely impact your ability to resell the condominium or for
that matter live in it in a peaceful and habitable fashion? Are
the assessments that are being levied realistic and have you
been given all the relevant documents to review? It is best to
retain the services of an attorney in the jurisdiction where you
are purchasing your home to insure that your rights are being
protected. Buying a second home can be an enjoyable experience. However,
not living in the home year round and not being available to
participate in the management of the Community Association
creates additional potential problems. The quality of
management, therefore, of the Association in which your second
home is located is extremely important and you are best advised
to ascertain whether in fact your Community Association and your
home are being properly managed. In simple terms, don’t sign the
Purchase Agreement unless and until you have done a thorough
investigation of the issues which are likely to rise in
purchasing a second home out of state.
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ABOUT THE AUTHOR
Mr. Meisner is a founding member of the Bingham Farms, Michigan
law firm of Meisner & Associates, P.C. located at 30200
Telegraph Road, Suite 467, Bingham Farms, MI 48025. Ph. (248)
644-4433; (800) 470-4433; fax (248) 644-2941. Robert M. Meisner
is practicing attorney of over 30 years. He holds a BA from the
University of Michigan and a JD from the University of Michigan
Law School. Mr. Meisner was a co-draftsperson of the 1978
Michigan Condominium Act and the January 2001 Amendments
thereto. He has been general counsel to United Condominium
Owners of Michigan (UCOM) for its entire existence of over 29
years and is legal counsel to numerous community associations
and developers. Mr. Meisner is also Michigan’s first inductee in
CAI’s College of Community Association Lawyers. He has authored
the popular booklet, Condominium Operation: Getting Started and
Staying on the Right Track, as well as many articles on
condominium law and he is a featured newspaper columnist. Mr.
Meisner has lectured at the National CAI Conference and Law
Seminars, for the Institute of Continuing Legal Education (ICLE),
is an adjunct professor of law for Cooley Law School, and for
Michigan State University - Detroit College of Law where he
teaches community association and Condominium law. He has also
been an instructor of condominium operation courses for over 20
years at colleges and/or universities in the State of Michigan.
Mr. Meisner is also a facilitative mediator, trained in the
Michigan Supreme Court’s alternate dispute resolution rules and
certified by the Oakland County Bar Association to conduct
facilitative mediations which are designed to resolve disputes
between adversarial parties.
Dated: April 2, 2004
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