Anyone with the required funds to pay the asking price may buy property in Hawaii, although ownership of the land that a structure sits upon is a complicated issue, according to RealEstate.com. Much of the land in Hawaii is actually leased rather than sold under a "fee simple" title, as is customary with land sold in other parts of the United States.Know More
A large majority of the land once owned by the Hawaiian royal family is now held in several trusts, with much of the land designated to the welfare of the Hawaiian people. Property that is not used for the common good, such as for schools or cultural centers, is sold under a leasehold agreement for a specified number of years. Jason Van Steenwyk of RealEstate.com notes that this means the property returns to the original owner or trust after the period of time left in the lease, typically anywhere from five to 30 years. David Nash, a real estate agent specializing in the island of Oahu, explains in the article that under this system "you only own the box above ground."
Steenwyk points out that there are advantages to this system, namely the relatively inexpensive price of purchasing under a leasehold rather than a fee simple deed. However, the disadvantages include the insecurity of not knowing if the lease price will go up over the years or even if the lease will be extended upon expiration.Learn more about Finding a Home
Buying a mobile home is similar to buying a standard house, but it usually comes with lower down payments, lower property taxes and lower monthly payments. Buying a mobile home is done by obtaining a loan, the same as one would for a traditional home, according to Realtor.com.Full Answer >
An individual can rent Key West condos by working with a local real estate broker, contacting property owners directly through a vacation-rental or homesharing website, or consulting a resort with rental condos. The searching party should consult property reviews and reviews of vacation-rental companies before booking, USA Today recommends.Full Answer >
To find land for a mobile home, decide whether to rent or purchase an individual plot of land, or to live in an existing community, then inspect the land for mobile home suitability, states SFGate. Contact the landlord or property management company to make the necessary arrangements.Full Answer >
Freehold or freehold estate is a legal concept that identifies the bundle of rights and responsibilities that come with a piece of land or buildings. Having a freehold estate in property generally indicates that a person or entity owns and has a present right to possess the property.Full Answer >