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Brian X. Murphy
"An Educational Approach to Real Estate"
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Brian X. Murphy answered:
A condex is typically two homes joined together. Much like a duplex. You own one half, someone else owns the other half. You'll share the cost of master insurance to cover the whole structure. You might also purchase separate homeowner's insurance to cover just the part that you own; usually from the studs, in.
A nice thing about a condex is that all of the maintenance costs are shared. This means that there are no homeowner's association fees. There are just two people agreeing on what needs to be done. The drawback is that if one of you can't make the payments on the shared expenses, the other person is left holding the bag.
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A nice thing about a condex is that all of the maintenance costs are shared. This means that there are no homeowner's association fees. There are just two people agreeing on what needs to be done. The drawback is that if one of you can't make the payments on the shared expenses, the other person is left holding the bag.
Visit me at:
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