Keller Williams Realty Atlanta – Brookhaven’s Legal Tip:

Special Issues with Buying/Selling Condominiums

1.      Monthly dues – confirm current amount and any scheduled increases

2.      Capital assessments – confirm whether any have been voted on and approved – when due

3.      Initiation fees – confirm amounts (often 1 or 2 months of dues)

4.      Confirm items included in dues:  water, power, gas, cable, internet, insurance, pool, tennis, security, other amenities plus all outside maintenance.

5.      Status letters for closings – cost $50-100 each – charged on HUD-1 at closing

6.      Insurance letters for closings – cost $20-50 each – charged on HUD-1 at closing

7.      Management and billing of dues – professional company or homeowner in complex

8.      Parking spaces and storage units – sometimes specific to condo unit

9.      Rules that prohibit renting units – may need to confirm

Presented by Leigh Clack, Attorney   404-705-3690

Neel & Robinson, Attorneys at Law, LLC

22 Lenox Pointe, Atlanta, GA 30324  lenox@neelandrobinson.com

More Legal Tips From KW Atlanta:

 First-Time Home Buyer’s Tax Credit – Don’t Wait Till The Last Minute!

 Buying Property From The Bank: Tips For Buyers

Waiting Periods Required Under New Truth in Lending Law

  Termite Letters – Still a Good Idea

Tags: buying a condo, issues with buying a condo, issues with selling a condo, keller williams peachtree road, keller williams realty atlanta, keller williams realty brookhaven, neel and robinson atlanta, selling a condo

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