may

bump! no answer, anyone? - Fri Sep 5 2008, 22:49

Bill Eckler: Thank you, Bill, for your suggestion. I will check it out with my bank manager here in Australia. Although a lot of times, I often have to educate her instead of the other way around - as we have investment properties in Australia.

Marty: Thank you, for your reply. I will email you with questions. - Thu Sep 4 2008, 20:27

Sj209: Thank you for your suggestion. You are right, given my circumstances - low price target and being a non-resident, I have to do a lot of legwork (research on the internet) and work with the listing agents - if I cannot find a buyer agent.

Jeremy Lehman: Thank you for your offer. I have looked at your website and found it to be helpful. I will contact you with questions on some of the listings. As I mentioned, my target price range is very low (around $100K for a condo). - Thu Sep 4 2008, 20:14

Thank you, Scott, for your reply. Will keep it in mind when I find something. - Fri Aug 22 2008, 21:04

Thank you, Dave, for the additional comments on all the fees and costs, and good suggestions about knowing before buying the necessary information and costs. - Wed Aug 6 2008, 17:37

Thank you, everyone, for your quick answers! Appreciate the comprehensive replies - all good and helpful comments. Thank you for explaining the property taxes in CA.

In Australia, the body corporate levies have 2 components: one for administration which covers operational expenses; and one called "sinking funds" which builds up funds for future repairs & maintenance (such as external painting or major repairs - like replacing the roller door of an underground carpark). When we look to buy an apartment (or condo), we check out the levies and see how much there is in the sinking fund account (particularly for old buildings). So, the US and Australian systems are very similar.

Monique: It is interesting that you mentioned avoiding condos with pending litigation. I saw some nice ones going for very cheap because there is a court case between the condo owners and the land owners over the fees (the website said currently $200 a month and could go to $2,000 a month!) - Wed Aug 6 2008, 16:13