Financing in Mount Pleasant>Question Details

jrolfes, Home Buyer in Mount Pleasant, SC

What are Regime Fees?

Asked by jrolfes, Mount Pleasant, SC Sat Mar 30, 2013

Help the community by answering this question:

Answers

6
Julie O'reilly’s answer
Think of regime fees like condo fees if you are used to that term. They cover items that are common to the development- as well as some others like roof replacement, exterior maintenance, replacement insurance, floor insurance- just to name a few. They are usually paid monthly or quarterly. If you want to discuss a specific property please feel free to contact me and I can provide the specifics for that home.
0 votes Thank Flag Link Sat Mar 30, 2013
Hi,

by now you understand what regime fees are. Do you have any specific neighborhoods you are concerned about in regards to possible regime fees? Let me know and I can answer any questions for you.

Talk soon,

Rebecca Kroseberg
Carolina One
843.901.8659
rebecca@CharlestonLifestyleGuide.com
0 votes Thank Flag Link Mon Jul 22, 2013
What is regime fee for Wood hill Place condos in North Charleston, SC?
Flag Sat Dec 6, 2014
Regime fees are the costs associated with the managing of the operating expenses of a property regime. In the state of South Carolina, condominiums are known as horizontal property regimes. These costs can include insurance on the buildings, both hazard and flood, community maintenance, common area expenses, etc. Some communities may also have HOA fees on top of the regime fees. Each development will have a master deed and covenants which spell out how these fees are handled and how they can be adjusted in that particular complex. These fees need to be taken into account when purchasing a condo or townhome. But they are not just an added expense, as the items paid for by the HOA, would typically be expenses an individual homeowner would have to pay themselves as well.
Information is available by contacting the local property management offices of any community you are interested in.
0 votes Thank Flag Link Sat Jun 8, 2013
Regime fee's are normally associated with condo's and town homes. It would be the amount of money per month you are personally charged for community upkeep, along with potential amenities. Like a pool or tennis courts. That being said each community is different. So, you should have your agent contact the HOA in order to find out what the cost covers.
One mistake that some individuals can make can be assuming that the monthly fee's covers hazard insurance. This is something that you need to be sure of before purchasing a property in order to understand what your monthly fee's are going to be, not just your mortgage.

Lastly, there is also an annual HOA fee that can apply to a number of different properties and communities.

The best advice is to make sure that you have your agent find out these figures, numbers, along with any other important information for you.
feel free to contact us if you need any further assistance.


Hope this helps
0 votes Thank Flag Link Wed Apr 24, 2013
Regime fees are the costs associated with operating a property regime. In SC condominiums are known as horizontal regimes. These costs can include building insurance, maintenance, common area expenses, etc. There may also be HOA fees on top of the regime fees. Each development will have covenants which spell out how these fees are handled in that particular complex. Feel free to contact me if you would like to discuss further.
0 votes Thank Flag Link Sat Mar 30, 2013
Dear jrolfes,

I would love to help with information regarding regime fees! Please let me know what property you are asking about and I will get the information for you.

Best regards,

Cheryll

Cheryll Woods-Flowers, Coldwell Banker United
cflowers@woodsflowers.com
843-442-2219
0 votes Thank Flag Link Sat Mar 30, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer