Reply to Condo fees are ridiculous

Forum Index » Real Estate

Reply to "Condo fees are ridiculous "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Condos are pretty straightforward, [b]easy to buy, sell and rent out[/b]. If its not your forever or at least long term home, co-op is more of a headache as a time share, you've limited rights. [/quote]

They are easy to sell if you as long as you price them right.

Renting the unit out - can present a challenge in buildings or neighborhoods where there are already a high number of rentals. There is a threshold for percentage of rentals that once surpassed can be an issue with some forms of lending. and the condo board can also impose rules on this as well.

[/quote]

This is the case in a lot of blgs in foggy bottom that are over 50% rentals now. Lenders won’t do a loan without a very high down payment, even for otherwise qualified buyers.

I think buyers looking at condos, coops and townhouses really need to use buyers agents familiar with these transactions who can help them compare apples to oranges and tell them stuff like “this new  building has low condo fees now, but in 10 years, the pool maintenance and gym and elevator and landscaping and all that will cause these fees to double.”

Comparing the all in cost on coops and condos also is complex bc you have two mortgages basically and pay taxes via your coop fee. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics