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Ja102, Other/Just Looking in Wakefield, MA

What are the HOA fees?

Asked by Ja102, Wakefield, MA Tue Nov 29, 2011

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Heath Coker’s answer
Sometimes the other definition of HOA is Have Obnoxious Abutters. HOA fees can mean less freedom with your property. On the other hand it could mean Have Organized Accountability for those who prefer to live where restrictions help encourage property maintenance. And, it can also mean Have Other Amenities for areas with parks, docks, beaches, pools, etc.
0 votes Thank Flag Link Mon Dec 5, 2011
Homeowners Association fees are funds that are collected from homeowners in a condominium complex to obtain the income needed to pay (typically) for master insurance, exterior and interior (as appropriate) maintenance, landscaping, water, sewer, and garbage costs. HOA fees are typically paid monthly and run on average from $75-$600 per month – these are indeed estimates, and can vary depending on many factors (especially if there are higher-end amenities being provided via the HOA fees such as a concierge, pool, fitness center, or valet). Fees are normally set by the HOA's board of directors and adjusted annually – oftentimes, an HOA board of directors is simply all the homeowners in a complex or building, if it is small, or if there are a large number of owners, the board of directors is typically elected by all homeowners. Any excess HOA fees that exist after paying for pertinent services as described above are stored in an account and called reserve funds.
Let me know if you wanted HOA fees for a specific property.
0 votes Thank Flag Link Tue Nov 29, 2011
HOA is the abbreviation for Home Owner Association. This association for private homes consist of rules, regulations and expenses that were put in place during the development of the subdivision. The expenses can vary and it is VERY important for you to have an understanding of what kinds of convenants, rules and restrictions are regulated by the association before you purchase within a subdivision that has an HOA.
Web Reference: http://callMaryWood.com
0 votes Thank Flag Link Tue Nov 29, 2011
These fees are regulated by the Home Owners Association Board of Directors that is elected by the members of the community. You should have received, or will receive, the HOA Rules and Regulations when you purchased your property. They will be specific as to what the fees are and what they cover. They can be paid on a monthly, quarterly or annual basis.
0 votes Thank Flag Link Tue Nov 29, 2011
you need to post a property address or link to have your question answered.
0 votes Thank Flag Link Tue Nov 29, 2011
Are you inquiring about a specific property? Please let me know the address to help you further.

:)
Melody Joy Gaeta, Realtor
0 votes Thank Flag Link Tue Nov 29, 2011
The HOA fees are the Security and Maintenance money that is paid to the HOA for the upkeep of the development.
They can vary from $50/month to $1,000, depending upon the HOA.

If you are asking how much a specific HOA charges; you failed to identify what you're talking about.

Good luck and may God bless
0 votes Thank Flag Link Tue Nov 29, 2011
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