Masonry is construction built by using mortar to bind together units of stone, concrete block, brick, or glass block ( I would not refer to ceramic tile work as masonry). It can be either structural or non-structural, meaning it can either resist the loads placed on buildings by gravity, wind or seismic loads, or it can be used as a cladding or screen with other materials carrying strucural loads. Both concrete block construction and brick construction are correctly referred to as "masonry," referring to the fact that both are built by "masons." Masonry is generally used for walls, not floors or roofs, but roofs can be built with masonry, using the dome configuration, probably as shown in popular photos of white domes in the Greek islands. Concrete block is made from concrete that is poured in molds and cured (not dried) to a solid material. Brick is made from clay that is molded and baked. Stucco is a cementitious material that is made from cement, sand and water, and is troweled or shot with a compressed air "gun" ("gunite") onto the underlying masonry. Bottom line: Concrete block and stucco houses are masonry, but not all masonry is concrete block and stucco. Pro tip: getting answers to techncal construction questions on a site such as this where answers are given by those whose qualifications are "homeowner" does not seem to lead to the flow of accurate informatioin.... more
There is no 'government guarantee' pay out on a reverse mortgage once the house has been defaulted. Also the reverse mortgage payout has nothing to do with a short sale--the default is a result of the owner not paying the HOA fees---a reverse mortgage requires all fees, taxes, insurance and maintenance be kept up. However, a short sale also is whatever amount the default 'owner' agrees to take to sell the house, rarely do you get to negotiate that price--they feel that they are already taking a loss.... more
2006 was at the peak of the real estate boom here in Florida. The bubble burst and prices dropped, sometimes substantially, for several years. Although the prices have recovered in some parts of Florida since the "bust," the recovery has been slower in some parts of the state.
Try contacting a local real estate agent in the area you are interested in for more specific information about that particular condo community.... more
Your question lacks the full information to answer this question with 100% accuracy.
Type of contract, terms on contract, addendum's, type of financing, disclosures.
The list goes on
I am assuming you do not have a Realtor helping you with this transaction. If you dont,
I strongly suggest you hire an attorney at this point. Your deposit could be at jeopardy.
You could be heading for a lawsuit if you do not perform as per contract.... more
It truly depends on how your contract is written. In most cases there will be an "inspection period", if you have an inspection within the specified time frame and notify the seller within the same specified time frame, you may have an option to cancel your contract. Speak with your Agent, they will best know how to answer your question.... more