The board or the association manager can answer your question.
A local realtor can help you understand the regular and special assessments for any condominium association in your geography. There is no standard.
Condos vs. Apartments: Ownership: Condos are individually owned units in a complex, while apartments are rented from a single owner. Maintenance: Condo owners handle their unit's maintenance, while apartment maintenance is the landlord's responsibility. Fees: Condos pay HOA fees for shared costs; apartments pay rent. Customization: Condo owners can customize more; apartment tenants have limited options. Investment: Condos can appreciate and be rented out for income; apartments are primarily rented. Decision Making: Condo owners have input via HOA; apartment decisions are made by landlords. Resale: Condos' value can increase; apartment tenants don't benefit from value appreciation. For more information Visit Condopoint.ca is leading real estate website for buying and selling properties
my condo association already has a lien against 2 condos who are seriously delinquent in paying their services fees. so now how do we get our money since they are ignoring the lien? a.k.
There is no standard answer to your question. Read your governing documents to determine what is possible in your case. There may be special fees you pay when you purchase a unit from a developer, which may be passed along to subsequent owners, or not -- according to what's written in your declaration.
Looking for the perfect condo can be time consuming and a little bit confusing, too. However, there are some tips that can help you buy the right condo for you. Keep these tips in mind as you view prospective condos and choose one to purchase.Size MattersNot only do you need to know how much square footage a condo has, you also need to know whether it is a studio, one bedroom, or two bedroom condo. Even though it may be cheaper to buy a studio, you might not be happy when all of your living space is in one area, especially when you have guests. It may be cheaper to buy a studio, but you may have trouble selling it later because most buyers want a separate bedroom. Make sure you know what you really want as you view condos.AmenitiesSome condos are located in buildings that offer no amenities. If you are working with a tight budget, this is usually your best bet because the condo fees will be minimal. However, if you are looking at a condo in a building that has lots of amenities to offer residents, you will probably have to pay quite a bit extra each month in condo association fees. For example, if a building boasts a gym and a pool, you can be certain you are going to have to pay for those items. You will have to ask how much the condo fees are each month to see if your budget allows for that.Rules and RegulationsLiving in a condo versus living in a single family house can be quite different. For example, you will have to follow the rules and regulations of the building in which your condo is located. There may be rules about having pets inside your condo or rules that limit what you can do inside your condo. For example, you may not be able to change the layout of your condo by knocking down a wall without getting permission. You need to know the rules and feel comfortable with them before you decide to make your purchase.Knowing these tips can help you make the best decision for your needs. You will know what questions to ask your real estate agent to get the information you need.
Of course you can. In most states, condo fees become liens on the condo, so a secured debt. You would have to file a C. 13 and plan to pay off the arrears as a secured debt.
There is no standard, plus all fees are negotiable. The real estate agent involved in your transaction can explain fees to you.
You can wait for the association to take action against you for the debt you owe, or you can take action and explore payment plans that fit into your current situation.
YES. Condo Fees
Not usually. Your monthly assessments -- fees, you write -- pay to operate the community and save money for major repairs.
Probably not. Just as you can't claim ownership of property to which you have no title.
The first thing that comes to our mind when we plan to buy a condo is to live a much better life than we previously have, right? Not just you, but there are already a lot of people who bought a condo and thought that they are living a more satisfying life now. Of course, we all need to live in an environment where we can be safe and contented. That's Maslow's second hierarchy of need - safety!