What are the Coop Fees, Rental Rules, Assessments - How financially is the Coop doing?

Asked by 185dmc, Cleveland, OH Fri Jun 7, 2013

This question was asked from http://www.trulia.com/property/1080239124-7383-Orangewood-Ln…

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185dmc, Home Buyer, Cleveland, OH
Sat Jun 8, 2013
Thank you for your help, That is what I was trying to uncover
0 votes
No problem!
Flag Sun Jun 9, 2013
Jennifer Sus…, Agent, Boca Raton, FL
Sat Jun 8, 2013
Dear 185dmc,

This is a condominium in Boca Grove Country Club.

There are numerous condos available in Boca Grove if you are looking for a country club lifestyle. This will entail an upfront equity payment, of about $70,000, (this is paid in cash at closing, They currently have a special of 55k for equity membership. Yearly club dues of around $18,000 - $20,000.

Sincerely yours,
Jen Sommers
Jennifer Sommers, Nestler Poletto Sotheby's International Realty
One South Ocean Boulevard, Suite 11 ⃓ Boca Raton, Florida 33432

O. 561.235.7777⃓ C. 786.390.9299 ⃓ F. 561.997.2614
Jen@AgentBoca.com ⃓ http://www.AgentBoca.com



"Artfully Uniting Extraordinary Properties with Extraordinary Lives"
0 votes
marc jablon, Agent, Boca Raton, FL
Fri Jun 7, 2013
This is a condominium in Boca Grove Country Club, it is not a co-op. Currently this
Boca Raton condo is off the market.

There are numerous condos available in Boca Grove if you are looking for a country club lifestyle. This will entail an upfront equity payment, of about $80,000, (this is paid in cash at closing, it cannot be put into a mortgage) and yearly club dues of around $15,000 - $20,000.

The reason for this Boca Raton condo's inexpensive price is because it is in a Boca Raton country club. Every country club in Boca, and just about everywhere else in the area, is suffering from a lack of buyers.

In today's economy, very few people are interested in paying, or able to afford to pay, the equity fees and yearly country club dues. As a result, there is a glut of great looking condos and single family homes available within every single Boca Raton country club.

A rule of thumb is that if you find a single family home or condo that looks wonderful, has everything you could want in it, and is selling for a price that is well under the rest of the market for comparable homes, then you're looking in a country club home.

However, if you are not looking for a country club lifestyle, and you are not interested in paying the equity fees and club dues, then you will need to considerably raise your price expectations to at least double, and more likely, triple the cost you're seeing for these country club properties.

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
JablonTeam@gmail.com
561-213-6139
http://www.JablonTeam.com
0 votes
Jolie Abreu, Agent, Boca Raton, FL
Fri Jun 7, 2013
This is a condo, located in Boca Grove Country Club, which requires an equity club membership of $70,000. The quarterly dues are $6,266, which includes exterior property insurrance. The condo association itself is strong because it is part of the general community associations. Hope this helps Please let me know if you'd like more information about this property.

Best,

Jolie Abreu
Illustrated Properties R.E.
561-288-0279
jolie@helpinghomes.net
http://www.helpinghomes.net
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