anyone have a condo is the fee included into your mortgage
2006-12-27 22:48:22 · 10 answers · asked by matt12882003 3 in Business & Finance ➔ Renting & Real Estate
how much are the fees every month
2006-12-27 22:56:25 · update #1
anyone who owns a condo how much do u pay for condo association fees a month
2006-12-27 23:01:25 · update #2
Usually not. Unless the condo association holds the mortgage
2006-12-27 22:53:54 · answer #1 · answered by Glenn B 7 · 0⤊ 0⤋
Condo association fees are separate from your mortgage payment. They are used for the upkeep of the common grounds , pay the maintenance help, buy supplies, etc.Also some utilities may be paid by that fee . My fee 5 years ago was $146.00.
I have owned my 1 bedroom condo five years. I pay $172.00 per month in fees . My fee in addition to grounds upkeep includes heat, hot water, and cooking gas for my unit!
My friend has a 1 bedroom condo at another complex he pays $320.00 per month and he only gets grounds upkeep and basic cable no utilities but he has a pool , golf and walking trails.
Research the fees history before purchasing. Also don't forget to ask if the monthly fee includes a special assessment. A special assessment is a extra amount that is added every month for a period of time to pay for special repairs the complex needs to make but does not have enough money in reserves for.
2006-12-28 09:03:16 · answer #2 · answered by yeah , yeah whatever 6 · 0⤊ 0⤋
They are usually billed quarterly or monthly and seem to be quite the rip-off too. My friend could have purchased another condo over the 12 years of fees she has paid to Tahoe Keys Association. She also claims that the amount of money the association gets is mis appropriated.
2006-12-27 22:54:35 · answer #3 · answered by Mt ~^^~~^^~ 5 · 0⤊ 0⤋
My Condo Association does not bill the monthly dues. They are payable on the first of each month and have nothing to do with any Mortgage.
2006-12-27 22:57:38 · answer #4 · answered by fatsausage 7 · 0⤊ 0⤋
I have always paid my condo fees separate of mortgage payments. I never heard of a bank requiring that condo fees be paid into an escrow account.
2006-12-27 22:53:51 · answer #5 · answered by regerugged 7 · 0⤊ 0⤋
U R talking about hoa dues they r seperate, so if u r buying find out how much ur monthly dues will be, then add the mortgage pmt so u will know exactly what u pay per month.
2006-12-28 16:55:07 · answer #6 · answered by bodacious baby 7 · 0⤊ 0⤋
I heard these fees can range... what does the condo offer? what is included? the facilities? the amenities? the area? varies.... contact a real estate agent... tell them the name of the condos and location... they should be able to give you some kind of estimate...
2006-12-28 02:52:43 · answer #7 · answered by ﺸÐïåMóñdÐôññåﺸ 5 · 0⤊ 0⤋
Association fees can't be rolled into the mortgage payment, only property taxes (and if it was a house, the homeowner's insurance.)
Dues are going to vary from one complex to the next. It's one thing to look into when you are looking for one to buy.
2006-12-28 01:38:53 · answer #8 · answered by KL 5 · 0⤊ 0⤋
seperate. i own one. the building i live in has an income of about $35,000 a month and expenses less than $10,000.
2006-12-27 22:59:10 · answer #9 · answered by I dont know but... 4 · 0⤊ 0⤋
from what I was told last year by my real estate agent ---they are seperate !
2006-12-27 22:50:21 · answer #10 · answered by just me 4 · 0⤊ 0⤋