If the listing states that the HOA fees are paid ($200) every quarter, what does that mean?

Asked by Ava Lewis, 32822 Mon Feb 18, 2008

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8
Greg Traub, Agent, Orlando, FL
Mon Feb 18, 2008
Ava,

HOA dues are not paid to the mortgage company but billed separately directly by the HOA.

Aren't you working with an agent yet Ava? We all don't mind helping with your questions online, but it is starting to become clear that you would benefit emensely from the personal attention of an agent helping you. Most of the questions you can ask online you will get great answers, but for every question you most likely come up with, there are 2 questions you may never think to even ask.
Web Reference:  http://www.gregtraub.com
1 vote
Mary Smith, Agent, Venice, FL
Mon Feb 18, 2008
Homeowners Association Dues can have several forms of scheduled payments. The neighborhood in question, obviously has their home owners pay $200 quarterly for a total of $800 yearly. The listing should also list what benefits or amenities you receive for your homeowners dues. If you need more assistance, please feel free to contact me and I will look up the specific neighborhood and give you more information.

Mary Smith
Bosshardt Realty Services, Inc
941-914-3005
1 vote
Rick Aguirre, Agent, Orlando, FL
Sun Mar 2, 2008
Ava,
HOA payments are for the Home Owners Association. You would most likely get a bill quartely for this amount. HOA's are for public areas such as community pools,parks and common areas. Also for the upkeep of the landscaping in a community. Sometimes you may have an option to pay this yearly. You have to check with the association for that. Hope this helps
Rick.
Web Reference:  http://www.realestatera.com
0 votes
Greg Traub, Agent, Orlando, FL
Mon Feb 18, 2008
I commend your desire to know as much as possible before you make such a big purchase. If only more people were like you! Do all the reasearch you need and don't let anyone push you into doing anything quicker than you are comfortable with.
Just remember though, you can read as much as you can get your hands on, but when it comes down to it, experience counts for more than you could imagine. ;)
0 votes
Ava Lewis, Home Buyer, 32822
Mon Feb 18, 2008
Greg,

No, I don't have an agent or a realtor. I have been reading real estate books, online forums, etc. to get me prepared. I just wanted to gain as much knowledge as possible before starting the homebuying process.
0 votes
Myke Atwater, Agent, Santa Rosa Beach, FL
Mon Feb 18, 2008
The previous two answers are correct, however make sure that you have the most up to date information--frequently the information on a listing is from earlier information. If you are really interested in a property, ask your realtor for the condo or homeowner documents as well as a copy of the most recent financial information and meeting minutes from the latest association meetings.
Web Reference:  http://www.MykeTriebold.com
0 votes
Phil Fowler, Agent, Brandon, FL
Mon Feb 18, 2008
Hello Ava,

To add to the previous answer you can divide $200 by 3 to get your monthly amount when planning your budget. Make sure that there are no extras you have to pay for, e.g. CDD which would be included in your taxes.
Web Reference:  http://www.PhilFowler.com
0 votes
Ava Lewis, Home Buyer, 32822
Mon Feb 18, 2008
Thanks! Are HOA dues paid to the mortgage company?
0 votes
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