Fee Simple Vs. Leasehold 

There are different types of home ownership and the difference is quite drastic. One lets you buy the home and keep it FOREVER until you decide to transfer title and the other, well... expires with the land. Here is what you need to know about fee simple and leasehold properties.

Leasehold

You guess it, this option is a lease and expires with the ground lease. Usually, these are long term leases (ex:100 years, 50 years). The land is leased long term for a cheaper price than buying. When the ground lease expires, HOA can try to renegotiate an extension to renew the long term lease. Each owner then would be purchasing their share to extend their ownership. When searching for homes you can inquire on the duration of the remaining lease term. It is difficult to get a mortgage on these units and your ability to secure a loan will depend on how much time is left on the lease. Each banks response will vary. In general, your ability to mortgage a condo in general has many factors including ratios of owner to tenant occupancy, insurance coverage and more so, if you are interested in buying a leasehold condo you'll have to shop around to find the right bank. Your realtor will have an idea of what banks can help. Ask your realtor for help.

Pros- It is usually a lot cheaper to purchase these condos. This is great for investors that want a great rate of return.

cons- Your value dwindles with time as the lease end gets closer. Your interest in the property has a lifespan of the lease. 

Fee Simple

Fee simple is the most complete form of ownership. This option does not expire. You will own the unit until you decide to transfer title to anyone else. The land and all the upgrades belong to you entirely. Fee simple homes specifically condos are much easier to finance.

Pros- Your value increases over time with the market trends. You never have to worry about re-purchasing your share in the property

Cons- Usually more expensive to purchase a fee simple property  

Setting up utilities and knowing where to go can be difficult when you have a lot going on at the same time. Here is a list of all the vendors and locations to help you navigate through the process. (P.S click on each of the maps below to get the  exact directions to each location)

Prefer to connect utilities via email? Applications and supporting documents for new power accounts can be emailed to customersfirst@gpagwa.com. Business customers can email requests and documents to businessfirst@gpagwa.com. GPA will prioritize processing of these requests on a case-by-case basis according to needs and resources 

Guam Power Authority 

Website: https://guampowerauthority.com/

Phone Numbers: (671) 648-3000

Operation Hours: 7am to 5pm Monday to Friday 

Pay online website set up: https://paygpa.com/

Tenants- To connect power you will need your accepted (signed by all parties) lease agreement, utility authorization (this is prepared by your landlord or authorized representative), ID's and deposits. 

-Your Landlord will usually have the address on the authorization for the utility company to reference. Having account or meter numbers is helpful but not mandatory. It is extremely helpful if your landlord references the current or immediate past account holder on your authorization sheet. If the utility company isn't able to locate your account, ask your landlord for these additional information. 

-Deposits vary depending on size of the home and a/c units. Guam Power Authority will likely already have this information on file and attached to the homes information. Deposits are usually:

1 BR w/o A/C- $125

1BR with A/C- $175 

2BR w/o A/C- $150

2BR with A/C- $300

3BR w/o A/C- $200

3BR with A/C- $400

4BR w/o A/C- $250

4BR with A/C $500+

For more information on deposit returns, meter readings and more refer to: GPA CUSTOMER SERVICE 

-Connection fee $25 not including expedite fee. 

-You can request immediate/same day connection for power.

Home Owners/Buyers- You will need your deed that was given in your closing packet. There is no deposit required for home owners. Bring your ID and connection fees. 

Guam Water Authority 

Website: http://guamwaterworks.org/

Phone Numbers: 671-647-7800 

Operation Hours: 8am to 6pm Monday to Friday, 9am to 1pm Saturday 

Pay online website set up: https://paygwa.com/

-Water deposit is will be around $35.  Water will have a 1-2 day connection. Same day connection is not an option. If utilities are already connected, there will be no disruption in service however if utilities are not connected, prepare for a delay in water service to your home. 

-Connection fee $25.

(All Locations offer transfer of both services in the same location)

Hagatna Location 

Backroad Mangilao Location 

Drive through payment window open Monday to Friday 7:30 am to 3:30pm 

Upper Tumon Location 

Drive through payment window open Monday to Friday 6:30am to 3:30pm 

Guam Solid Waste Authority

Website: https://www.guamsolidwasteauthority.com/

Phone Number: +16716463111

Operation Hours: 8am to 5pm Monday to Friday 

Pay online website set up: https://www.online-billpay.com/Default.aspx

GSWA Application

Places to discard items that are not allowed in the regular or recycle bins: GSWA Resources 

If you are renting and living in a condo or townhome you will likely have a commercial trash bin included in your rent. If you have a single family home, you will need to apply for trash services. There is no deposit for trash. Once you apply, you will be given a pink slip to place in a visible area of your home for you bin to be delivered. Lately there has been a shortage in bins. If bins are in supply, you will get a regular black top bin for normal trash and a recycle green top bin. (see website for itemized list of what can be thrown into each bin). Trash payments are check only or cash to their remote payment locations, I recommend signing up for online bill pay. 

-Monthly fee $30.38 per month 

Utility Application to be uploaded soon. 

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