WHAT IS THE HOA/CONDO FEE???

Asked by Luddi, Wilmington, NC Mon Sep 9, 2013

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Luddi, Home Buyer, Wilmington, NC
Mon Sep 9, 2013
Jeff, THE TOWNHOME AT 4024 ECHO. Really hate these straw that breaks the camels back fees as one does not know who is running it and what is one really gaining out of this monthly expense//?
0 votes
I think you got your answer, but yes it is $210/month for 4024 Echo. That monthly fee covers: Cable, Common Area Maint, Ext. Bldg Maint, Management Fee, Master Insurance, Road Maintenance, Sewer, Tax Comm Area, Termite Bond, Trash Removal, Water, Yard Maint ----- And you are correct if you buy into any HOA you need to do homework on the viability of the HOA to verify that there is enough in reserves (the HOA's savings account) to minimize or eliminate them charging assessments to the homeowners. It is listed that master insurance is included, I also double check that for my buyers as it is not always reported correctly, however if it is correct then that would include the bulk of your insurances which can save you about $1,500-$2,000 per year here in the coastal area. Feel free to call or email me if you want me to do some more homework for you on it.
Thanks
Jeff Lesley
910-297-7071
JLesley@Century21Sweyer.com
Flag Mon Sep 9, 2013
Jay Seville, Agent, Fairfax, VA
Mon Sep 9, 2013
Luddi, I live in Echo Farms myself. The monthly fee depends on whether you want some level of club membership. THere are several tiers of membership for the golf course, tennis and swimming facilities. My family is on the sports membership and we pay $70/month. There is no regular HOA fee.

My website does give more details on listings than most so the HOA fee, room dimensions, are displayed for example.
0 votes
Thank you as that appears to be more than a reasonable approach but a fee of 240 is excessive to us..never do understand who is in charge and what it does for us...hurts.
Thank you for your info.
Flag Mon Sep 9, 2013
However the townhouses/condo do have HOA fee of $240 for example on Peeble.
Flag Mon Sep 9, 2013
Jeff Lesley, Agent, Wilmington, NC
Mon Sep 9, 2013
Which building were you referring to in Echo Farms? There a few different sets of condos/townhomes, let me know which address you were looking at and I can get you the specifics.

Thanks

Jeff

Jeff Lesley
910-297-7071
JLesley@Century21Sweyer.com
0 votes
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