If you want to learn more about what an HOA is and how they operate, then check out our post, "HOA 101: Basic Terms & Definitions." You can learn more about common words and phrases used in HOA communities and what each means.
If you don’t secure a mortgage — because something changes in your finances or the money doesn’t come through or is delayed for some other reason — it could slow down your closing or cause it to be scrapped entirely. Unmet contingencies ...
Real estate commissions represent one of the highest costs at a typical closing. Buyers don’t pay this fee, sellers do. Historically, the commission has been 5% to 6% of the home’s purchase price, split evenly between the seller's agent and the buyer's agent.However, legislation in 2024...
Don’t Forget About Home Maintenance One of the highest costs of home ownership that new owners are not prepared for is maintenance and repairs. The water heater breaks, the stove stops working, the fridge goes out – you need money to pay for these things when they happen. Will both of...
Halper agrees. “When buildings don’t perform audits, I’m not happy.” Beyond audits, other checks and balances boards should have in place to minimize the likelihood of fraud or mismanagement of their building’s finances include “regular review of monthly receipts and disbursements including...
First, find out what fees would apply to you. Don't rely on estimates from real estate websites. Instead, get an exact number from your agent. HOA fees often have a tiered structure, with higher or lower assessments depending on the property size or level of improvement. ...
wouldn't know ahead of time what they're paying out of pocket. If a family member gets sick and has to go to the urgent care and then needs a branded prescription, they could end up paying more than the $87 out-of-pocket cost of the copay plan, depending on the specific treatments...
A health insurance deductible is the amount you must pay annually before your insurance company starts to pay for the costs of medical services and sometimes prescriptions. For example, if your plan had a $3,000 deductible, you'd have to pay the first $3,000 for healthcare before your ins...