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Financing in East Rockaway : Real Estate Advice

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Activity 2
Sun Jan 23, 2011
Anna M Brocco answered:
The unit is currently not showing as available on MLS--you can also check out www.mlsli.com for current available properties and their maintenance fees, or if you need additional assistance feel free to contact me directly. ... more
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Mon Jan 17, 2011
Arlynn B. Palmer answered:
Hi Propga,

By rent, are you referring to the maintenance charges for the co-op?

Check to see what is included in the maintenance fee. Generally gas for heat and cooking is included, but does not have to be.

You will also be obligated for your electric usage (if not included in the maintenance), phone and cable bills, YOUR mortgage and YOUR home insurance as well as any other personal services you sign on for.

You MAY also be obligated for your share of any general or specific assessment fees that may (or may not) be applicable. Sometimes instead of increasing the maintenance fees a co-op organization will assess additional fees for a limited time (perhaps a couple of years) to cover extraordinary expenses such as increased heating bills (if heat is included in the maintenance), additional costs due to clearing the premises of snow (during extremely snowy winters), repairs that were not anticipated, etc. If such fees have been assessed, they become your obligation and will be collected with the monthly maintenance.

The management company of any co-op will be able to answer your questions as to exactly what is covered in the monthly maintenance fee and whether there are any special assessments currently in effect or anticipated in the near future.

Please contact me if you would like additional information about co-op maintenance fees and/or have questions regarding a specific co-op unit.

Regards,
Arlynn

Arlynn B. Palmer, ESQ, SRES, CBR, CMS, CNS
Associate Broker, REALTOR
Coldwell Banker Claire Sobel
Direct: (516)410-3594
Email: Arlynn@ArlynnPalmer.com
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Financing in East Rockaway Zip Codes

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