Frequently Asked Questions

1. If I want to reserve a condominium unit, who holds the deposit, and under what circumstances can I get it back?

   Answer: With respect to condominium units that Walden Properties, LLC is taking reservations on, the deposit is held by the title company, Northern Abstract, and the reservation agreement states the terms under which the deposit can be refunded. Generally, a reservation agreement is not binding on either party. A reservation agreement in essence holds a buyers' position on a particular unit, so if that unit is built, the buyer has the first right to write a purchase agreement on it.

2. If I reserve a unit in the RiversEdge condominium development, do I get to pick my own cabinetry and flooring?

   Answer: Yes; there will be several different cabinets and flooring choices available to buyers, and they will be offered at three different price levels.

3. What amenities will the RiversEdge Condominiums offer buyers?

   Answer: All units will have a view of the Thunder Bay River and some will also have panoramic views of Lake Huron as well. An elevator will escort you from the garage level to your unit, on whichever floor you may be situated. Shopping carts will be available to ease in the transportation of groceries and other purchases from your vehicle to your unit. All floors will have trash chutes available. Approximately ½ of the units have a fireplace, and extra garage spaces will be available. A security system will installed for the entire building, and the entire building will be protected by a sprinkler system.

4. When will construction begin?

   Answer: When 50% of the units have been reserved, the developer will contract with the builder, and at that time, all those buyers with units reserved will have to turn their reservation into a purchase agreement, or the reservation on that unit will cease to exist.

5. Can I write a purchase agreement subject to the sale of my home?

   Answer: Yes; you can certainly write a purchase agreement with contingencies.

General

1. If I want to find waterfront property in northern Michigan, how can I find all the properties listed in my areas of interest?

   Answer: You can always go to realtor.com for a complete list of all properties listed with REALTORS. You will find the basic information, such as price, lot size, type of waterfront, body of water (such as Long Lake, Grand Lake, Lake Huron, Thunder Bay River, etc. locally).

2. If I want to sell a piece of property, such as my primary residence, vacant land, or a second home, do I have to list it for a specific time frame?

   Answer: No; the listing agreement, which includes the time frame and the rate of commission, is negotiated with your REALTOR.

3. Does Walden Properties, LLC list property with the Multi-List Service?

   Answer: Yes; Walden Properties, LLC belongs to the Alpena Alcona Presque Isle Board of Realtors, and the Multi List Service, and lists property in the Multi List Service. The seller makes the decision as to whether or not a listing is posted on the MLS.

4. Does Walden Properties, LLC work with buyers on property listed through another REALTOR?

   Answer: Yes; we work with buyers of any property listed in Michigan.