Andrew Pippa, Home Buyer in 06606

What is the HOA and property taxes? Thank you. Drew

Asked by Andrew Pippa, 06606 Sat Oct 10, 2009

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HOA is Home Owner Association Fee that is paid monthly to a condo association. In that fee, it normally covers water, sewer, trash, ground maintenance, garbage removal, snow removal, exterior insurance, management. Don't forget this als covers exterior of a condo as well through insurance for the exterior of a unit. Taxes is property taxes, which no matter what type of property you buy, you will ay property taxes. If you were to buy a single family home for example, you would pay property tax and homeowners insurance. When you are ready to purchase a condo, you will get condo docs from the seller within 10-15 days to review all financial information about the complex along with bi-laws, and if any - special assessments if the comples is going through upgrades for the exterior. A Realtor will walk you through all these steps .
0 votes Thank Flag Link Fri Oct 1, 2010
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