Atlanta Midtown 2BR/2B Condo For Sale -
Buyer Agent Asks About Rental
An Atlanta Midtown 2BR/2B Condo for Sale will attract a lot of attention. Housing in Midtown is in high demand. And so is parking! Unit #12 at THE PONCEANA holds Title to two parking spaces in a gated lot. While a few of the condo complexes have parking, usually, it is a one per unit - not two spaces.
Across the street from Mary Mac's Tea Room, a short block from the Krispy Kreme doughnut factory, 3/4 of a mile East of Georgia Tech, only 3/4 of a mile West of the Ponce City Market, less than 2 miles from the Carter Center and less than four miles to Emory University, this Atlanta Midtown 2BR/2B Condo for Sale offers a wide array of living experiences close to home.
Unit#12 ownership offers another extra feature - a private storage closet right next to the front door. Never enough room for storage - is there?
Sunday, February 20, 2016 1-4 pm
Please join us and look around at this large and unique condo - Unit #12 at The Ponce - located in a 1917 building with 2016 upgrades. See you at the Open House!
Can't get to the Open house? We'll schedule your private visit to see Unit #12.
Contact Lynn or Becky at 404-355-4466 - the office landline phone!
Atlanta Midtown 2BR/2B Condo for Sale and the Buyers' Agent called to ask about the possibility for her investor client to purchase and then rent out Unit #12.
Answering that question is a TRAP for an agent - BE CAREFUL! The same as in my previous post about Buyer Agent Asking about FHA qualifications, there is no predictible answer in that very small community - only seventeen units all together.
The answer remains buried in the original Condominium documents. Is the limited number for rentals based on SQUARE FEET in the building or is it based on a division of rentals allowed based on the NUMBER of units in the building?
The basic question seems simple but it is not. Remember real estate school? That wasn't really "Law School" was it??? Should it be the job of the Listing Agent to interpret a legal document? NO!
Here's my reply:
I requested an answer to the rental question from the HOA Management Company. Haven't received any answer so far.
I think it's best for the Selling Agent to be responsible for answering the Buyer Client's questions based on the Selling Agent's own research.
Therefore, for your convenience, please find the PDF of The Ponceana condo documents attached. Unfortunately, they were not assembled in numerical order by the HOA but it is a complete copy.
I am a Real Estate Professional who uses tools to help my Clients Sell or Buy homes. One such tool is a full set of contracts available from the Georgia Association of REALTORS.
In Georgia, the agents write the contracts for each transaction. I use the GAR contracts. I am not interested in re-inventing the wheel. The GAR forms we use are reviewed each year by a law firm hired by the GAR. I am not an attorney.
If the Selling Agent wants to take that additional Liability of making a Legal interpretation about the avilability for rental there, now she has the documents to analyze..
Photos courtesy of Lynn B. Friedman.
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