Frequently Asked Questions
What is a REALTOR®?
All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® (the world’s largest professional association) are properly called REALTORS®. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate.
Why choose Waterville Valley Realty?
Waterville Valley Realty has been serving the Valley for nearly 40 years. Our professional REALTORS® — Managing Broker Ray O’Hara, Jeff Brown, Frank Freeman, Susan Hammond and Kate Wheeler — collectively offer over a century of product knowledge and experience in the listing and sales of Waterville Valley property. Waterville Valley Realty is a member of the Lakes Region and New Hampshire Board of Realtors.
Can a Waterville Valley home or condo be rented when the owners are not using it to reduce the cost of ownership?
Yes! Vacation rentals are popular and rentals do help offset the cost of ownership. A history of rentals is usually available to show you this potential.
If I were to purchase a second home or condo in Waterville Valley, how could it be managed in my absence?
All Waterville Valley condominium complexes contract with a professional property management company. In several cases, the property manager is on site. Homeowners may also contract with one of several local companies that offer property management services.
What is quartershare ownership?
Quarter ownership is a form of fractional ownership, which allows buyers to purchase a share of a condominium. Waterville Valley Realty offers resale quarters at Mountain Sun Condominium. Owners of a Mountain Sun townhouse enjoy a 13-week share in a spacious 3-level, 1,600+/- sq. ft. condominium with 3+ bedrooms & 2.5 baths. Each Mountain Sun Quarters unit is fully furnished & equipped right down to the silverware, linens, TV & appliances. And, every Mountain Sun Quarters unit is maintained inside & out (including maid service) by the condominium owner’s association. Quarter ownership has made turnkey second home ownership a real estate phenomenon at some of the best-known vacation spots in the world. Mountain Sun Quarters is part of the Resort Condominium International (RCI) worldwide vacation exchange program.
What is a 1031 Exchange?
A 1031 Exchange is an IRS tax rule for deferring taxes on income and/or investment property. It is not necessarily an “exchange,” but you must “sell” one property and “buy” another “like kind” property within IRS guidelines. This is considered a very handy vehicle and there are time and value considerations, so check with your tax advisor.
What is Title Insurance?
An insurance policy that agrees to indemnify the owner for defects in title caused by specific risks.
What are the hazards of lead-based paint?
For all homes built before 1978, all buyers and sellers are required by law to receive and read a pamphlet outlining the hazards of lead-based paint. Be sure to ask your real estate agent for a copy.
What are closing costs?
Closing costs are an accumulation of charges paid to different entities associated with the buying and selling of real estate. Some of the closing costs a buyer might encounter are: discount points, escrow fee, documentation fee, inspection fees, appraisal, and State of NH transfer tax; for a seller real estate commission and State of NH transfer tax (split between the buyer & seller) are typically the largest fees.