Home Buying in Palatine>Question Details

Mmarink, Home Buyer in Palatine, IL

When the listing states that the Fees and Taxes HOA (Monthly} are XXX.... Please define "Fees and Taxes", i.e., does it include "property" Taxes?

Asked by Mmarink, Palatine, IL Fri Mar 29, 2013

This question was asked from this property: http://www.trulia.com/property/3039190505-931-E-Kings-Row-8-…

Help the community by answering this question:


Good morning! The Homeowner's Association dues are $312, which include: common insurance, exterior maintenance, lawn care and snow removal. The 2011 property taxes are separate and in the amount of $2,781.42, which includes the homeowner exemption. Homeowner's insurance would still need to be purchased to cover the contents of the home as well.
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0 votes Thank Flag Link Sat Mar 30, 2013
This sounds like a co-op building. Id ask the agent for clarification what the"fees" are for but sounds like the taxes are included int he assessments.
0 votes Thank Flag Link Fri Dec 6, 2013
Usually, that just refers to your HOA fees. The property taxes are extra.

John Meyers, Managing Broker
Meyers Realty & Chicagoland Rentals
Park Ridge, Chicago & All Suburbs
c: (847) 533-7115
0 votes Thank Flag Link Wed Dec 4, 2013
Looks like you got your question answered. As an FYI - it is best to never buy through the listing agent of a property - as they are on the seller's side - so you'd get into a dual agency conflict of interest situation. Best to use an expert negotiator, and one who has no home showing biases - an Exclusive Buyer Broker (they and their companies never list property for sale - and are specialists - not generalists.) A regular so-called "buyer agent" might push more of their own in-house listings on you - or their own listings. We never list (represent sellers) - so that we may be 100% on the buyer's side - 100% of the time. Buyers can trust our advice and representation, and be assured that there won't be any conflict of interest, or have their information compromised by shared fax machines, file cabinets, overheard phone conversations, shared buyer feedback with listing agents, or in other ways.
0 votes Thank Flag Link Mon Apr 29, 2013
In this case in the field 'Fees and Taxes' shows HOA 312$ paid monthly, property taxes are not included and for 2011 were 2781.42.

If you need additional help or have any questions please feel free to contact me.

Paul Fijalkowski
Coldwell Banker Residential Brokerage
0 votes Thank Flag Link Fri Mar 29, 2013
No. This particular listing is only talking to the monthly HOA fees. Taxes from the 2011 tax bill are another 225/month.

If you have been prequalified for a mortgage, the bank or broker will give you a monthly payment to target. This must be all inclusive of principal, interest, taxes, insurance and hoa fees.

Geoff Ommen
Broker Baird & Warner
0 votes Thank Flag Link Fri Mar 29, 2013
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