So you want to sell your home and you are tired of yard maintenance, house maintenance, and high property taxes? Perhaps you are tired of renting but find the cost of a house in the Bay Area daunting. Maybe you are just starting out and want to invest in property but don’t really need a big place yet, but would like something you could use as leverage to buy something larger in the future. Or, you don’t like maintaining a yard. Another scenario is retirement and you don’t need or want a large house. A condominium or townhouse may be just what you are looking for.
REAL ESTATE TERMINOLOGY:
ALIENATION CLAUSE In a deed of trust or mortgage, a provision that if the secured property is sold or transferred, the lender has the option of accelerating the loan and declaring the entire unpaid balance immediately due and payable. Also called a “due-on-sale” clause.