Philadelphia Real Estate Blog

Center City Philadelphia
Condos and Lofts

 

Subscribe To Receive
 Blog Updates By Email

Calendar

March 2024
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
 
 

April 13, 2010

What is a Special Assessment in Condominiums?

Filed under: Center City Real Estate,Of Interest to Buyers,Of Interest To Sellers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 2:20 pm

Put simply: If the condo association wants to replace all the windows in your Center City condo building, and they don’t have the money in the bank to pay for it up front, they will bill every owner an amount to pay for the improvement. They do this via a special assessment. That is why it is important to look at the overall condition of the Philadelphia loft or condominium building in which you might be considering a purchase.

Deferred maintenance issues are paid by the owners of the condo association. Does your building need a new elevator?
Something to think about……

Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

 

Tags: , , , , , , , , , , , , , , , ,

• • •

No Comments »

No comments yet.

Comments RSSTrackBack URI

Leave a comment

 
 

530 Walnut Street, Suite 480
Philadelphia, PA 19106
Direct: 215.521.1523 ~ Office: 215.627.6005
Fax: 215.627.3142
Email: Mark@CenterCity.com
Copyright Mark Wade | All rights reserved.
Site Admin | Log Out