Who runs a condo? A condominium is collectively run by the unit owners. These unit owners are all members of the condominium corporation. They manage the property, finances, records, reserve fund study agreements and other related matters. ...
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Make sure the HOA is in good financial standing. Ask to see your potential HOA's reserve study. Well-run associations will have a thorough budget, along with some robust savings. Talk to residents. These people could be your future neighbors! Ask for their perspective on the finances, manage...
In fact, a published study by theFederal Reserve Boardstated that as many as 33% of retirees returned to work in some capacity after retirement. Retirement is one of the best times of your life. Some retirees might see retirement as freedom, others might see it as financially stressful. ...
Of course, bonds don’t perform in a vacuum; their “yield is influenced by the state of the economy, inflation, Federal Reserve policy and investor sentiment, among other things,” says Shirshikov. So these various market elements ultimately affect mortgage rates, too. Among them: ...
Simply put, the loan underwriter’s job is to approve, suspend, or decline your mortgage application. If the loan isapproved, you’ll receive a list of “conditions” which must be met before you receive your loan documents. So in essence, it’s really aconditional loan approval. ...
Whether you’re a first-time buyer eager to become a homeowner this year, or you’re ready to leave yourSeattle condofor some acreage inDallas, buying a new house is an exciting time. However, it can be a lengthy and tricky process, even for the most seasoned homebuyer. From getting ...
13. What percentage of US wealth is managed by millionaires? (Source: Federal Reserve) According to the Federal Reserve, the top 10% in the US own 69.6% of the nation’s wealth. If you need a clearer example of financial inequality you just need to know that around a third of the US...
The experts consider the age of the property, its current state, and the amenities it provides, as well as project maintenance costs that may be needed in the future. Because condominiums or HOAs do not always fully fund their reserves, the final figure determined by a reserve study is only...
The big difference between a condo and an apartment is that you generally own a condo, while you rent an apartment. Apartment buildings are usually owned by a single owner (such as a property management company) and the buildings are used solely for rental purposes. However, condos that are ...