IMPORTANT THINGS TO KNOW ABOUT CONDO OWNERSHIP
1. Condo Association Fee (Monthly or Annual)
2. Annual Assessments (Not Covered in HOA) Personal Property Tax
3. Assessments are voted on by your association and can vary greatly for different complexes.
4. Property Tax on your unit.
5. If financed: Payment of Principle and Interest.
6. Most beach condos will NOT qualify for low down payment FHA loans because of Investor vs. Owner-Occupant ratios & other factors.
7.HO-6 Insurance Policy-Condo Insurance on your unit covers liability and contents.
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