Luxury condo vendors are individuals who sell and manage luxury condos. They can make the sales on behalf of the existing individual unit owners, as well as the condominium itself. Luxury condo living involves buying a unit in a condominium or renting one of the units from a unit owner. A condominium generally has a master deed governing unit sales, unit ownership and individual owners? behavior and obligations.
The master deed describes the property and what property interest someone buying into the condominium owns, what that ownership Interest covers as far as rights to common areas, and what monetary obligations the ownership carries with it. The luxury condo vendor works with the closing attorney for the sale transaction to be certain that all of the terms of the sale and ownership transfer are in order as required by the condominium documents and° master deed. Because of the Fair Housing laws of the United States, sellers of real estate cannot discriminate when selling housing on the basis of race, creed, or religious beliefs. Sales and financing decisions must be made on the basis of objective criteria that does not permit discrimination on the basis of the aforementioned criteria. Responsibilities of Condo Management and Luxury Condo Vendors
The Luxury Condo Vendor can operate as an owner-manager when brokering a deal on behalf of the condo or its unit owners. The master deed should stipulate the management requirements involved in administering the condominium, i...