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Christina LynchChristina Lynch

Christina Lynch

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agent@stlexpert.com
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Purchase of a Villa

When purchasing a Villa it is important to understand how villas differ from other real estate transactions.

• The purchaser of a villa acquires the ground directly underneath their portion of the building and their portion of the building subject to a shared wall with a neighbor (sometimes referred to as a “party wall”).
• The excess area of the lot is common ground that the subdivision association owns and maintains.
• The shared wall or party wall should have an agreement that is recorded dealing with maintenance/upkeep of said wall.  This agreement can be outlined in the subdivision indentures or as a separate agreement.
• Because the purchaser owns the ground directly underneath their portion of the building, they will need a survey in order to get survey coverage.
• Most surveyors will only perform stake/boundary surveys in connection with a villa- so make sure you order early in the process. 
• Villas are typically part of homeowners associations and may have a “First Right of Refusal” clause in their indentures.  In this instance, the title company will need to get that signed off prior to closing.
• A purchaser of a villa will have a monthly maintenance fee that would be prorated at the time of closing.

Villas are very popular in today’s market and it is important to know how they differ from the typical single family home, condo or townhome.  Please feel free to call with any additional questions you have regarding these transactions.

Jack Forsythe   
Legal Counsel
(314) 835-4105

“Secure Your Investment With Security Title”

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Posted in: Title Tips

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Still LOVE my home – thank you!!

Lynn B. Ballwin, Missouri

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Thanks Jim. I was prepared for a miserable experience. You took the worry and tension out of selling.

John Walsh Seattle, Washington

default image

We had the best experience during the purchase of our first home with Jim. We love it. One of my best friends is a Realtor and I have already told her that when I move, Jim Hurley is the one I work with.

James Fagan Ballwin, Missouri

default image

It was our first home and we spend several months looking. Jim never lost patience. He spent hours educating us and helping us through the process. He’s always smiling and positive…. Linda and Steve Green St. Peters, Missouri

Linda and Steve Green St. Peters, Missouri

default image

I wasn’t really considering buying a new home but one I had looked at before we bought the last one, which I loved, came on the market. I called Jim and we moved 45 days later with no problems. He really cares about the people involved in the process.

Tina and Tom Shinner Kirkwood, Missouri

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