Leasehold Versus Fee Simple Hawaii Explained
Posted by Start An Offer on
Understanding the difference between leasehold property in Hawaii and fee simple meaning is actually very simple! (Scroll Down to See Video) With leasehold you DO NOT own the land the home or condo sits on. With fee simple you do! A leasehold property will have an additional monthly lease fee that you have to pay to the land owner. (This fee typically goes up over time.) The lease is renegotiated every 10 years (typically) Leasehold properties are also very difficult to finance and are usually all cash deals. Leaseholds are also much less expensive than fee simple properties because of this extra cost and the risk associated with not owning the land. The good news is the many leasehold properties are converting to fee simple. Which simply means that the…
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