When prospective condominium buyers come to us for help, they all seem to have the same perplexing dilemma. They wonder why the monthly condominium charges vary so much from complex to complex within the same price range. How can such a buyer determine what is a fair amount and what isn’t?
Some fees include insurance and property taxes and others don’t. Some fee schedules are prepared by professionals and contain adequate reserves for maintenance, improvements and replacements. Unfortunately, other fee schedules are sometimes drafted by optimistic individuals who are more interested in selling unsold inventory than in managing accurately and efficiently.
If your purchase is handled by full-time residential agents, you will be gaining a larger degree of buyer protection. Be safe. When you look over the budget and the fee schedule, have a professional at your side to protect your interests.