Home Buying in Beverly Hills>Question Details

hopebush, Home Buyer in Beverly Hills, CA

Hi I'm from London, Chelsea and we would like to buy a property in Beverly Hills and we are hearing about hoa fees and monthly taxes on your own home?

Asked by hopebush, Beverly Hills, CA Fri Jan 4, 2013

Can you please explain these additional fees.

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Answers

13
Endre Barath,Jr.’s answer
Hi Hope , There are Property Taxes on every purchased home and it is based on the Purchase Price. Home Owner Dues are for Condominiums or if the home is in a gated community and that varies by ammeneties. If this does not answer your question, then please reach out directly.

Endre Barath,Jr.
Prudential California Realty
Beverly Hills, CA
homes@endrebarath.com
310.486.1002(m)
Web Reference: http://www.endrebarath.com
0 votes Thank Flag Link Fri Jan 4, 2013
Hello. If you were to purchase a condo/apartment, then there would be an hoa (Home Owners Association) fee. This is a monthly maintenance fee that all the owners in the community pay towards common area expenses and often also includes your water, sanitation, sometimes gas, janitorial and management, pool, landscaping, and some hazard insurance.

Property taxes can be worked out in your monthly mortgage payment or paid every 6 months. The property tax is approximately 1.25% of the purchase price.

I live, work and sell Beverly Hills and I would be pleased to assist you further. Please contact me directly if I can help. Thank you and happy 2013.
Sincerely,
Richard "RJ" Kas (SFR, SRES)
"Representing the finest properties from Los Angeles worldwide"
KAS Properties - Coldwell Banker Previews International - Beverly Hills South
166 N. Canon Dr, Beverly Hills, CA 90210
310.859-5334 office - 310.488.9826 mobile - 310-273-0690 fax ATT: RJ
RichardKas@gmail.com - http://www.RJforLA.com - DRE: 01352771
Sellers Buyers Investors Leasing Consulting
1 vote Thank Flag Link Fri Jan 4, 2013
Hello Richard, do you know how is calculated the annual tax on a building lot ? thank you for the information, Danielle
Flag Tue Jan 8, 2013
Hi there,

I work with many clients from overseas including the UK and would be happy to help you find a property. HOA fees are homeowners association fees which apply to condominiums. They usually include common area maintenance, water, trash, insurance. Some buildings with higher HOAs have cable, valet services, security and other amenities which increase the costs. Property taxes are paid twice a year or can be rolled into your mortgage payments. Please feel to contact me direct with any more questions you have.

Best,

Julie Kryukova

My contact:
(310)402-8181
jkryukova@gmail.com
juliekproperties.com
0 votes Thank Flag Link Wed Aug 13, 2014
Hi I am also from London and have lived here for 25 years! I would be delighted to help you.
The Home Owner Association fees are only if you buy a flat which is called a condominium or Town House if it is on more than one level here. They are the monthly maintenance fees for taking care of the common areas, gardens,pool, hallways, lobby etc. these can run amywhere between $300 to $700 depending on the building. For a 2 bedroom condo plan on about $500 a month.There are some buildings that have full valet parking and lobby concierge service so those fees are much higher, all the high rise buildings on Wilshire Blvd just West of Beverly Hills for instance, they can be anywhere from $1200 on up to $4000 or so depending on the square footage of the unit.

The taxes are what we call the Rates in England and are payable twice a year to the county assessors office, the taxes are approximately 1.2% of the purchase price, the taxes can also be paid through your mortgage company payment monthly.

If you buy a single family home not a condo you will only have to pay the Taxes, unless it is in a gated community for instance that has a communal, pool,gym, tennis court for instance then there is a HOA fee for the maintenance of those common areas, (not many of those in Beverly Hills)

I hope this explains things for you do not hesitate to call or email if you have further questions and I would be delighted to help fellow Brits. I live and work in this area with one of the best regarded offices in Beverly Hills.

Valerie Nickerson
Prudential CA Realty
Beverly Hills, CA 90212
mobile: 310-595-5275
vnickerson@prula.com
http://www.valerienickerson.com
0 votes Thank Flag Link Wed Aug 14, 2013
Hi, Just wanted to say Hello I am English and live and work in the Beverly Hills area with Prudential CA. Realty.
I see that a few people have answered your question so hopefully you understand. Just to give you an idea if you are buying a flat or condominium there is always an HOA (Home Owners Association)fee that covers the monthly maintenance of the common areas there may be a pool,gym,landscaping and cleaning etc. in Beverly Hills that can be anything from $400 to $1000 a month for an average 2 bedroom size, If you are in a 'Full service' building that will be more since that will include valet parking, front desk personnel and 24hr security, so closer to $1500 and up.
There may be HOA fees on a single family home if it is in a gated or planned community with tennis courts, gym, pools etc for the use of all residents.
There is a board of directors of the HOA appointed by the owners by nomination yearly that run the association.

Taxes are paid half yearly or monthly with your mortgage if you prefer and is approx 1.25 of purchase price. This is what we call the property 'Rates' in England. These are on any property that you buy single family home or condominium.

I would be very happy to help a 'fellow Brit' with your search, you can contact me directly by calling 310-595-5275 or email vnickerson@prula.com if you have any more questions or would like to view any properties,
Cheers!
Valerie
0 votes Thank Flag Link Thu Jan 24, 2013
Dear friend!

HOA ( Home Owner Association) fees are generally charged by association if such exists - usually condos or gated communities. These HOA fees will vary based on association and amenities.

SFR ( Single Family Residence) homes usually don't have HOA fees ( unless this property is in gated Comunity/association).

Property taxes: you will have to pay on any real estate property ( condo, townhouse, SFR house) is 1,25% a year.

Hope this will help you!

Please call me if you wish for me to present you all properties in Beverly Hills!!!


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____________________ 
Help with Any Real Estate Transaction - Buy or Sell  

Call me 424-777-9377 -  FREE CONSULTATION!  


Should you have any questions - please feel free to call me Toll Free: 1-855-TRUST-55 (1-855-878-7855)  ext. 777. 


Sergey Fednov 
President - Realtor® 
- Trust Sale Realty - 
Residential & Commercial Real Estate 
_______________________________ 
Toll Free: 1-855-TRUST-55 
Toll Free: 1-855-878-7855 
Phone: 424-777-9377 
Fax: 310-356-4925 http://www.TrustSale.com  http://www.TrustSaleRealty.com 
- We Hire CA Licensed Real Estate Agents - 
Lic# 01896869 
 
0 votes Thank Flag Link Fri Jan 4, 2013
Hello,
If you are buying property in California, the property tax is 1.25% of the purchase price. You can pay it twice a year (half and half) or someimes the lender will insist that they add it to your monthly loan payment and they will pay it for you (twice a year). That is called an Impound Account. Some people like it better that way.
If you have any further questions, I'll be glad to help. My contact information is on my website: BeverlyHillsRealEstateCompany.com
Best Wishes,
Ron Henry, Founder
0 votes Thank Flag Link Fri Jan 4, 2013
Hi Hopebush,

There are only HOA fees in condominium or townhomes, or in gated communities. Single family homes in Beverly Hills would not have HOA fees. Property taxes are approximately 1.25% of your purchase price. Taxes are billed semi-annually. Depending on how you make your purchase, and if you have a loan, the bank can hold an impound account for you and pay the taxes. I personally prefer to hold on to the money myself and pay them on my own. Hope this answers all of your questions!

Best regards,

Jodie
0 votes Thank Flag Link Fri Jan 4, 2013
I am actually a Brit. As people have mentioned, it is the condos that carry HOA fees and the odd gated community. Property taxes are assessed at around 1.25% of the purchase price of the home, and they are paid twice a year. Other than single family homes don't carry HOA fees and you are buying freehold, not leasehold as in the U.K.
Web Reference: http://www.homejane.com
0 votes Thank Flag Link Fri Jan 4, 2013
HOA Fees are Home Owner Association fees.. they happen if you buy a condominum or a PUD (Planned Unit Development) or in general if the property is part of a Home Owners Association.

The fees vary from very basic (for hoas that provide the minimum) to very expensive... some high-end HOAs offer Gym, cleaners, valet parking, etc

Property taxes are usually 1.25% of the purchase price annually... they are paid two times a year.. in November and April... a lot of times they are "impounded into the mortgage" this means collected as monthly payments from the mortgage lender and paid to the county by them on your behalf.

I hope this helps... if you need help finding a property or arranging for financing my team and I are her to offer you the best service!

if you find my answer useful, please give it a Thumbs Up!

ron@select-realestate.com
0 votes Thank Flag Link Fri Jan 4, 2013
Hello Ron

Thank you for your helpful reply. I see you mentioned 1.25% on property taxes. We are looking to spent $1m max and all upfront. Does this mean we pay the tax man $12,500 each year? if so is there a way around paying this fee at all?

Kind regards,

Hope
Flag Fri Jan 4, 2013
Good morning,
Please contact me directly, and I would be happy to answer all your questions, and show you properties meeting your criteria.
Have a lovely day,
Best,
Susan Bo'ur Realtor Coldwell Banker
(310) 600-4240
Susan@BeverlyHillsFlats.com
0 votes Thank Flag Link Fri Jan 4, 2013
Greetings! HOA fees apply to condominiums, which are similar to flats in London. Single family homes in Beverly Hills do not have HOA fees, although condos do. Property taxes generally total about 1%-1.5% of the value of the home and whether there are any local assessments.

I'll be happy to assist you in your home search and answer any additional questions you have. I partner with an agent in my office who travels to London several times per year and has completed real estate transactions in Beverly Hills for foreign buyers. Please email me your contact information. Cheers!

Mark Crane
Keller Williams Beverly Hills
439 N. Canon Dr
Beverly Hills CA, 90210
310.498.3050
markcrane@kw.com
0 votes Thank Flag Link Fri Jan 4, 2013
HOA fees are typically charged when buying a Condo in which the common area is shared among all of the Condo owners in a given complex. Not only is the common area shared but also the the fee to maintain this area is shared. If you are buying a home typically there is no HOA or Home Owner Association fee. Monthly taxes are your yearly home owner tax obligation divided into 12 monthly payments (impound account) so that the financially challenged will not have to come up with a sizable tax payment at the end of the tax period. It is not required to pay home owners tax monthly. If you would like any additional information feel free to contact me direct. See below.

Sincerely,

Darryl West - dwest@powerhouserealestate.net
Powerhouse Real Estate
433 N. Camden Drive Ste 600
Beverly Hills, CA 90210
888-739-0922 x706
http://www.PowerhouseRealEstate.net
0 votes Thank Flag Link Fri Jan 4, 2013
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