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Short answer: generally, yes, unless its part of a rental complex.
Long answer: your issue may be in vocabulary. Condo is really condominium; fees are really assessments; townhomes is a style of real estate building.
When you purchase real estate, one option is to purchase a unit covered by governing documents -- Covenants, Conditions, Restrictions and Regulations (CC&Rs) -- that boards use a guides to operate private democracies including condominiums, home owners associations, co-operatives and so forth.
When you purchase real estate in such a 'shared ownership' style of real estate, you owe assessments automatically. Assessments are spent by the community to pay its expenses, including master insurance policy premiums, maintenance and preservation of amenities and structures, landscape maintenance, and so forth.
If the style of structure that you purchase -- a townhome -- is part of a shared ownership community, then, yes, you will pay assessments. (You may also purchase what could also be called an apartment, or a unit or a home as part of a shared ownership community.)
Alternatively, you may live in a townhome that is part of a rental complex with no individual unit ownership.
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What fees does the seller pay on condo sale?
There is no standard, plus all fees are negotiable. The real estate agent involved in your transaction can explain fees to you.
How come some charge condo fees and some dont?
Condominiums charged assessments to owners, in order to pay for the operation of the community. All condominiums collect assessments. In some communities, there may be optional fees for asset use, such as greens fees or pool fees. These fees are charged for use and may not be charged to owners who do not use the asset.
Are condo fees required to be based on size of unit in Virginia or can they be set as the same for all units in the development regardless of square footage?
No, they are usually the same for all units regardless of square footage. A car dealership has signing fees for a new car that are standard, regardless of the value of the car.
Can i force my co-owner of our condo to sell if he cant pay all is part of the condo fees?
Yes. You can petition the court for a partition of the property. If the court agrees it will appoint a commissioner to appraise the property and determine a selling price. You can then purchase your co-owner's interest. Since there are added court fees and legal fees associated to the partition you should try making a fair offer directly to your co-owner.You should discuss the situation with an attorney who specializes in real estate in your area.
What is the difference between condo insurance and town home insurance?
Nothing. They're the same exact thing. As long as the HOA has dwelling coverage on all the buildings this is all you need.
What is a two plus two condo?
ummm..... :S two condo + two condo = four condo i think....... Seriously though, look at this website, it says all about it. hope this helped
How much usually for condo for sale in Chicago?
There are lots of prices for condo's in the Chicago area. All of them have different factors that will affect the price. Age of the condo, dues, age of appliances, and location are all factors that will dictate the price. Also, if the condo is a foreclosure will have some bearing on the price. Generally someone can purchase a condo for about $250,000.
Where can one find condos for sale in Arizona?
Scottsdale continues to be a prime area for condo ownership for not only the urban professional but also with second home buyers and golf condo buyers from all over the country and Canada. This website has been designed specifically to help you easily browse for Scottsdale Condo, Loft and Townhome markets.
Can your mortgage on your condo be assumed by FHA to purchase a home in same town?
Pose this question to the mortgage lender, together with all the details involved. That person will be better prepared to give you the answer you need.
Where all the 4 leaf clovers in build a bear ville?
Pawsitively Green Center, Entrance, Friendship Forest Park, Maxine Clark's Condo, Town Square! Good Luck :)
Is it normal to have several fees in addition to the rental price for a condo?
Unfortunately, yes. Well, let's call it "typical" more than "normal". There is an unfortnate tradition in all types of lodging for hidden fees. Hotels do the best job at not adding these fees. Some B&B's add manditory 'tips' for a variety of 'additional services'. But, if you asked about fees before booking, reputable places will tell you. And, in any case, if the fees are more than 10% of the stay, it's 'normal' to have a word with the manager.
How much does it cost for a furnished condo for rent?
You can visit, www.condo.com/ to view furnished condo's for rent in Evansville, Indiana. Depending on what all you are expecting out of the condo will determine the price on rent.
