/biz/ - Business & Finance

>>54275154
It’s worse than you describe
HOA fees are hard to calculate correctly and are constantly updating.
If they charge too low, the building can fall into disrepair and lock management can force a “special assessment” where all of the homeowners are suddenly on the hook for tens of thousands of dollars.
I’m looking for a beach home in Miami area and any non single-family-home peppery requires HOA fees. For a $500k place, fees run between $700 and $1100 *a month*
I was looking at a place in some historic Cuban neighborhood and I found something relatively large for $350k and right by the beach.
A few weeks later i was surprised to se it went for $250k but on closer inspection it sold for $250k plus a $60k fucking assessment.
So the person selling was probably forced to sell because they didn’t have $60k cash on hand to pay for lock management’s fuck ups.

>>54273326
Senpai…
>>54273444
Checked