02 - Condominium Loans and Special Assessments With Jim Wallace
Condo Web Show - Interviews with Condominium Experts
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Navigating Condominium Loans and Special Assessments
This chapter explores the complexities of condominium loans and special assessments in the U.S. and Canada, detailing challenges faced by owners, particularly regarding reserve fund deficiencies. It outlines the various repayment options for special assessments and emphasizes the relationship between owners and financial advisors to ensure transparency and mitigate hidden fees. The discussion also highlights the critical reasons for special assessments, including aging buildings and unexpected repairs, urging potential buyers to be aware of these financial implications.
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