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Condo Questions

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Leeners
:)

Member since 5/05

4898 total posts

Name:
Eileen

Condo Questions

For those of you in condos:

Do the "Common Charges" mean $ paid per month or is it like taxes and it's paid per year?

Are condos like co-ops in that you need 20% down and have to get approval of a board?

Thanks!

Posted 6/29/05 8:30 AM
 
Prudential Douglas Elliman Real Estate
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Redhead
You Live, You Learn

Member since 5/05

31871 total posts

Name:
Jennifer

Re: Condo Questions

Common Charges are paid monthly

You do not need any board approval in Condos only Co-ops
eta...no you do not need 20% down

Message edited 6/29/2005 8:38:10 AM.

Posted 6/29/05 8:37 AM
 

sasha96
lovin' my 2 little ladies!

Member since 5/05

7401 total posts

Name:
Julianne

Re: Condo Questions

common charges cover costs for outside maintenance (b/c you take care of everything on the inside and don't need anyone's approval for that), snow removal, gardening, upkeep of amenities, etc. Since you own the unit you pay your own taxes seperately. just like buying a house you can get a mortgage with any % down that you qualify for.

Posted 6/29/05 8:46 AM
 

Leeners
:)

Member since 5/05

4898 total posts

Name:
Eileen

Re: Condo Questions

great, thanks you two!

Posted 6/29/05 9:38 AM
 
 

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