This is a business and financial question, not a legal question. No one here is licensed or in a position to give you this kind of assurance. You need an appraiser (value of the property) or an accountant or financial planner (whether the terms of the deal are competitive; whether it is a sound investment for your financial capabilities and objectives).
My responses to questions on Avvo are never intended as legal advice and must not be relied upon as legal advice. I give legal advice only in the course of an attorney-client relationship. Exchange of information through Avvo's Questions forum does not establish an attorney-client relationship with me. That relationship is established only by individual consultation and execution of a written agreement for legal services.
This isn't a legal question at all. It is a business and investment decision for which you will need to consult with your realtor and/or real estate appraiser.
Whether a property is a good investment also depends upon the price you are paying, compared to what the market price might be.
Purchasing a first home is a big step. Generally speaking, a condo is not considered a good investment because there is an HOA involved over which you have little control. Therefore, in addition to the usual concerns for any real estate purchase, you will also need to examine the HOA's CC&Rs, budget, reserves, and financial statements to ascertain whether it is a good investment.
Frank W. Chen is licensed to practice law in the State of California. The information presented here is general in nature and is not intended, nor should be construed, as legal advice. This posting does not create any attorney-client relationship with the author. For specific advice about your particular situation, consult your own attorney.
Not a legal question.
J Charles Ferrari Eng & Nishimura 213.622.2255 The statement above is general in nature and does not constitute legal advice, as not all the facts are known. You should retain an attorney to review all the facts specific to your case in order to receive advise specific to your case. The statement above does not create an attorney/client relationship. Answers on Avvo can only be general ones, as specific answers would require knowledge of all the facts. As such, they may or may not apply to the question.
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