Quote:
Originally Posted by Realtor 1
This is how special assessments work. With everything said and done, it looks like each owner will be on the hook for a minimum of 10k +
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Quote:
Originally Posted by Ducay
Special assessments are killer. When we were originally buying our first home, we looked at, and put an offer on an amazing townhouse. Suffice to say when we reviewed the condo docs, we understood why it was so affordable. Even when the owners kicked in $50k against special assessments, it was too much risk given the complex's history.
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Indeed - it was my understanding from my friend that it was 10K(ish depending on the floor area) per year for the next several years - at least 4 if I remember correctly.