You will have the normal closings plus any condo fees related to the purchase. Usually that amounts to approximately 2-3 months of the maintenance fee. These monies are not in lieu of the first months they are fees that goes toward other items.
I suggest that during attorney review, make the sale contingent upon review of the condo associations Master Deed and By-Laws and the Minutes from the past three Condo Assoc. Board Meetings. This will eleviate any surprises including but not limited to special assessments, pet rules, budget constraints, etc.
Good Luck http://www.PrudentialNewJersey.com/jeff.halpern

Well the way it works in New Jersey is as follows. (We will assume you are using a realtor) When you decide to buy the realtor will get you to sign a sale contract which specifies how much you want to pay, how much deposit you are putting down, what mortgage you are getting and when you will be ready to close. (There are other forms but no need to get into deatail yet).
In order to submit the offer to the seller you need this contract together with a pre approval showing you can afford to buy the property and a check for $1,000 called a "Good Faith Deposit". The realtor will hold the check pending acceptance of your offer. If the offer is accepted then the realtor will deposit your check into their Escrow account and the deal will go into attorney review where the attornies for both sides examine the transaction. They have 3 business days to sdo so. During that period you may withdraw from with contract "without cause" - ie you do not have to have a reason. You will get your $1000 back right away.
After the end of attorney review you have 10 days to get an inspection done for which you will have to comeup with the money ( for a condo maybe $250) If there are issues then you can withdraw from the contract without cost to you (except for the inspection) At this point the mortgage people are going to expect you to start paying their fees. Once those are paid you are not going to get them back.
At the end of the 10 days it is usual for you to pay a percentage of your down payment (often 1/2 of the total) that money is sent to the attorney of the seller.
Now once that money is padi it starts to be a little more difficult to get all your money back - not impossible but a little more difficult.
People in the business will tell you that you can pull out of a contract without loss right up to the time that the deal is supposed to settle but that needs a real good excuse.