Home Buying in 31401>Question Details

Michael Andre, Home Buyer in Sydney, FL

I a curious about fees and costs associated with buying a condo in the historical north or south area of Savannah.

Asked by Michael Andre, Sydney, FL Fri Mar 22, 2013

I am a US expatriate and recently retired airline professional currently living in Sydney, Australia, but with plans to return to the US next month. I have been perusing condos in Savannah and would be curious to know what the various ongoing costs (beyond the actual sales cost) would be. I am planning a trip to Savannah in late April and am hoping to make contact and work with a reputable agent prior to my arrival.

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Hi Michael! If you're still in the market to purchase downtown Savannah, please let me know! I am a condo expert, especially in the Historic District! I live downtown and know the ins and outs of all the condo buildings in the area. In the price range you're looking to purchase with, you can expect to find a 2BR condo with gated underground parking (a rarity downtown), elevator access and storage unit! Some COA dues will include utilities and the perks mentioned above, and others will not. You will see the difference in the monthly fees vary greatly due to whether or not utilities are included as well. You should also expect to pay $250 for a home inspection, $35 for a termite letter, closing costs (if not negotiated in), hoa initiation fees depending on the building, etc. I always recommend negotiating in a home warranty for at least one year. Please contact me if you're still looking as I would love to work with you!
0 votes Thank Flag Link Tue Aug 20, 2013
I would be happy to send you properties that are available in the area. Having cash will defray any lender issues of course. You would still want to do an appraisal and you would have pro-rated taxes and hoa fees and attorney fees at closing. The appraisal would ensure that you are not overpaying for the condo. You would also want title insurance to ensure no liens on property, the fee for this insurance is based on sales price. Let me know what you are looking for and I can send you the current available properties and any new ones as they come on the market. Looking forward to hearing from you. Robin
0 votes Thank Flag Link Fri Mar 22, 2013
That put's you in an excellent position to get a great deal in this market Michael. Shoot me an email and I would be happy to email you some possibilities,
0 votes Thank Flag Link Fri Mar 22, 2013
Cheers Thomas - muchly appreciated!
0 votes Thank Flag Link Fri Mar 22, 2013
Thanks very much Robin. I am cashed up and would be paying cash (up to $330,000.00).
0 votes Thank Flag Link Fri Mar 22, 2013
Hi Michael, as a Savannah condo specialist I would be happy to answer your questions. There are a wide variety of choices for condo living in the Historic District and nearby islands. There is a lot to consider with condo living including association dues and what that covers, special assessments, amenities, owner occupant / investor ratios, warrantable or non warrantable condos and so on. When it comes to financing a condo you can run into problems with many banks but I have a great team of local lenders who are able to help my clients. I look forward to hearing from you.

http://savannahgarealestate.typepad.com/

Thomas Tolbert
Keller Williams Realty - Savannah Downtown
Office 912-232-8580
Direct 912-308-6839
thomas.tolbert@me.com
0 votes Thank Flag Link Fri Mar 22, 2013
I would be happy to help you find what you are looking for. The fees will depend on what type if financing you do. You will have closing costs which are lender fees to squire the loan and pre-paids ( credit check and appraisal fees, pro-ration of taxes, etc). Everything really depends on your financing. Some condos are difficult to finance due to amount of actual owners and renters in the building. Townhomes are much easier to finance with most lenders. I can certainly direct you to a lender who can provide you with a good faith estimate which will be an accurate account of fees expected. Please let me know if I can help you in any way. I would be happy to send you properties that would work for you if you aren't already working with an agent. Thanks, Robin
912-655-2554
Robinsellssavannah@gmail.com
Web Reference: http://Www.robinarrow.com
0 votes Thank Flag Link Fri Mar 22, 2013
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