December 2019

Found 1 blog entry for December 2019.

Dec 13

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We recently had a client who was interested in purchasing a condo in the Laguna Lido complex in Laguna Beach.  The listing had mentioned that the condo was on a leasehold interest.  The listing broker remarks on the listing goes on to say that the "Sellers (Lessees) have the LEASE HOLD Interest until 2059". It goes on to say that the "Lessee pays for HOA, Annual Lease fee of $11,643,21. plus Taxes, Insurance and Utilities. At the end of lease Term, Lease Hold Interest reverts back to Lessor."  Our client wanted to get more information on this since they thought they say some other listings in the Laguna Lido that did not have leasehold interest so we did some checking.  After reviewing previous listings in this complex we noticed a fair number of units