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Genna,
In addition to your general closing costs including attorney fees, insurance etc...a conominium board will usually require one month of common charges to be paid in advance and also may require the buyer to give the board power of attorney to make decision on behalf of the entire condominium. The fee for this is estimated at $25. Generally w/ new construction, a contribution of capital is put toward the condo boards general budget for operating expenses and usually is equal to two months of common charges.
It could vary depending on the complex and would be happy to discuss with you more in detail.
Ann Marie
Thu Jan 17 2008, 17:34