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Answers (4)
Best Answer
- Elisa Mullins, CPM, Broker, "discountrealtor"
- Contributions:515
no, not the monthly condo fee; it is included in the lenders analysis of your ability to qualify for the loan; but it is always paid direct to the complex or association manager by you after you buy.. it is not included in your mortgage payment to the lender or in your escrow account balances.
some sellers may agree to pay some of the fee up front for you in the contract terms of what you negotiate.. .but that is up to you and the seller to decide...with the help of the agents..
good luck
- T.C. Whiting, "TC_at_PNC_Bank"
- Contributions:332
Can you please rephrase and clarify your question? I'm unclear as to what you are specifically asking (so I'm guessing other people are having this problem too).
- shapiroamg
- Contributions:3058
A condo fee is negotiable? I dont think Ive ever heard that before. The seller doesnt set the condo fee (unless its a new project and the seller is the developer).
The Condo Fee is a regular monthly expense that is included in the mortgage payment for qualification purporses. It is not paid with the mortgage but direct to the condo association or mgt co.
The Condo Fee is a regular monthly expense that is included in the mortgage payment for qualification purporses. It is not paid with the mortgage but direct to the condo association or mgt co.
- Maria Morton, "MariaMorton"
- Contributions:716
It's a Closing Cost so can be negotiated. Your agent will probably go over this with you when the two of you are constructing your offer.
Can the Condo fee be included in the mortgage loan? Maybe the escrow account?
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