Palm Springs, California might be the ground lease capital of America. There are more than 7,600 land leases in the desert city, mostly owned by members of descendants of local Native American tribes. But for buyers, this can create some odd complications. For example, a three-bedroom home in Palm Springs can be had for $875,000. But it doesn’t end with the mortgage payments: the new owner of the home will also have to pay $5,000 […]
source https://therealdeal.com/national/2019/09/05/inside-the-murky-world-of-residential-land-leases/#new_tab
No comments:
Post a Comment