We owned 3 condos in Ocean City...now we have 2. We have 1205 West Ave top floor for sale by owner now. Our condo documents have a 3 way split on all repairs and all bills for the entire house.Make is very affordable to own. Taxes real low! Our condo is priced much lower than all the others for same young age, size, and distance, 350yds to boardwalk/beach! Feel free to call us!
Jim 201 739-3421
Ocean City Realty
Rest assured it is not as complicated as it sounds. I would welcome the opportunity to help you find and purchase your condo and help you navigate the details! I may be reached at 609-947-2451
Condo ownership in a duplex building is quite simple. There is a master deed referred to as "condo docs" that clearly states the responsibilities of the owners and shared areas are defined. Essentially, all repairs, maintenance, etc pertaining the building itself are shared equally while inside your 4 walls are your responsibility. There are no condo fees. There are 3 insurance coverages: one for the building and grounds which is the condo insurance, one for the studs inward which is the individual owners insurance, and lastly is the flood insurance.
If you would like, please contact me and I will be glad to send you a sample Master deed. My cell phone is 6y09-665-2031 and my email is firstname.lastname@example.org
Congratulations on your decision to buy a Ocean City home.
That question is right down my alley as I have owned several duplex/condos in Ocean City.All maintenance and repairs on the outside of the building are shared by the first and 2nd floor owners. Most of the time they are shared equally unless the 2nd floor has more square footage and in that case it could be a 60% for the 2nd and 40% for 1st floor. In most cases it is a 50/50 split.If the roof leaks or needs replacing, it is both floors who have to pay. Anything on the outside of the building like lawn, shrubs and any painting is shared. Anything you do inside is on you. The insurance is also split in the same way. Flood, Hazard and Liability insurance are split between the 2 floors. You will be responsible for your own contents insurance from the walls in of your unit. That will cover you from the drywall in ,your kitchen cabinets and furniture in case of a fire. If you buy an older duplex/condo that has only one water meter, that also is shared equally between the 2 floors. The newer duplex/condos have seperate water meters. You can find out plenty of great information on my website: http://www.kenfowser.com or call me direct at #609-412-8258
I really enjoy helping people and I live in and just love Ocean City.
Seas the Day!
Ken Fowser/ RE/MAX at the Shore