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maintenance & common charges
A condo or co-op with lower carrying costs can make buying more doable. Here's where to find one
… monthly payments you make towards building operations In condos these payments are called common charges and in coops … tax abatements do expire Typically they phase out over time Mihal Gartenberg a broker at Coldwell Banker Warburg … costs low have an exit strategy when taxes ramp up to their full amount Substantial reserve funds in the building can …
Do carrying costs include monthly mortgage payments?
… … The term carrying costs broadly includes all the monthly financial obligations … at Schwartz Sladkus Reich Greenberg Atlas … Coops and condos How carrying costs differ … In a coop the operating … common charges Your personal mortgagewhich you take out to buy the propertyis not included in a condos common charges …
What should I look for in an annual financial statement as a condo or co-op buyer?
… should be able to review a financial statement during the buying process Understanding this document can help you … Leitman Bailey PC who represents tenants apartment owners coop and condo boards and owners Among the most important … to get hit by assessments Wagner says … What is the coop or condos operating budget … In most cases the financial …