jawsflapin1, Home Buyer in Santa Rosa Beach, FL

I am considering relocating and I am concerned about the assessment fees/hoa fees with condos. Is this risky due to amount of foreclosures..?

Asked by jawsflapin1, Santa Rosa Beach, FL Sat Sep 15, 2012

This question is about this property: http://=www.trulia.com/property/3084948136-86-Village-Blvd-814-Sant… target="_blank" rel="nofollow">http://www.trulia.com/property/3084948136-86-Village-Blvd-81…

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Actually, jawsflapin (I like your made up name:)

You are entitled to a full disclosure of association funds prior to purchasing a condo. Many of the condominiums are improving, as our market is improving. The great deals are disappearing fast, and the buyers are in a position to pay the fees, so the condo associations in general are doing better. I would definitely make a review of the financial documents part of the buying process, however, just to be on the safe side.

If you do your due diigence with the assistance of a realtor, you should be fine.

Please let me know if I can assist you further.

I have offices located in Santa Rosa Beach, Destin, and Niceville, and I can help you find just the right property.

Myke Triebold, GRI, LMC, SFR, ABR
0 votes Thank Flag Link Sat Sep 15, 2012
It really depends upon the individual health of the condominium association. Many of our condos have "turned the corner" in re: to the number of foreclosures. When a foreclosure occurs, the Condominium Association does recoup some of their past due fees. One of the driving forces in condominium assessments is the hurricane & windstorm Insurance for the Exterior of the Buildings. However, when one looks at what is actually covered in condominium association dues, you may find that the fees are not that different from the purchase of a single family home. Often times fees include some utilities. You should find a knowledgeable agent and have them help you learn about the area and different complexes. Goof Luck and if I can help, just let me know.
0 votes Thank Flag Link Sat Sep 15, 2012
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