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Category - Condos
What are common charges?
The owner of each unit in a condo building pays common charges, which are monthly fees that cover the building’s amenities, services, and upkeep. Common charges may include building staff salaries, management...
What happens to a condo developer if the apartments do not sell and they default?
A condo developer defaults when they are unable to sell apartments and do not have the funds to pay off their loans. If this happens, it is likely that the building’s lender will either take over the building or...
Condo board application example
PURCHASE APPLICATION REQUIREMENTS Please send the complete purchase application package to the address above. The following is required: Two hundred and fifty ($250) processing fee for preparation of condo documents...
