Comments on: Miami Condo Buying Tips and Frequently Asked Questions http://www.miamicondorealty.com Wed, 14 Dec 2011 13:04:41 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Samir from MiamiCondoRealty.com http://www.miamicondorealty.com/miami-condo-buying-tips/comment-page-1/#comment-2012 Samir from MiamiCondoRealty.com Tue, 09 Jun 2009 02:48:00 +0000 http://www.miamicondorealty.com/?page_id=369#comment-2012 Frank Peemoller - 1808 in which building? You have no guarantee with condos just like you have no guarantees with any properties. Monthly fees are made up primarily of costs of insurring the building, maintaining the building (including staff). Fees could go up as a result of a building deficit (other owners not paying their fees). Fees fluctuate every year. They could remain the same (typically in mature buildings which have worked through problems early on). They could go up as a result of deficit or raising of insurrance premiums. You just don't know. This is why it is important to investigate the association finances prior to purchasing. Frank Peemoller – 1808 in which building?
You have no guarantee with condos just like you have no guarantees with any properties. Monthly fees are made up primarily of costs of insurring the building, maintaining the building (including staff). Fees could go up as a result of a building deficit (other owners not paying their fees). Fees fluctuate every year. They could remain the same (typically in mature buildings which have worked through problems early on). They could go up as a result of deficit or raising of insurrance premiums. You just don’t know. This is why it is important to investigate the association finances prior to purchasing.

]]> By: Frank Peemoller http://www.miamicondorealty.com/miami-condo-buying-tips/comment-page-1/#comment-1460 Frank Peemoller Mon, 08 Jun 2009 21:10:11 +0000 http://www.miamicondorealty.com/?page_id=369#comment-1460 I recently viewed the 1808 one bedroom apartment in the building. My question is what guarantee do I have that the association fees wont go up with time and if so what would be the worse case scenerio that these fees would possible go up to with time? I recently viewed the 1808 one bedroom apartment in the building. My question is what guarantee do I have that the association fees wont go up with time and if so what would be the worse case scenerio that these fees would possible go up to with time?

]]> By: Samir from MiamiCondoRealty.com http://www.miamicondorealty.com/miami-condo-buying-tips/comment-page-1/#comment-2010 Samir from MiamiCondoRealty.com Sat, 11 Apr 2009 08:01:00 +0000 http://www.miamicondorealty.com/?page_id=369#comment-2010 Correct Correct

]]> By: PJ Gohel http://www.miamicondorealty.com/miami-condo-buying-tips/comment-page-1/#comment-2009 PJ Gohel Tue, 07 Apr 2009 17:28:00 +0000 http://www.miamicondorealty.com/?page_id=369#comment-2009 Interesting, I believe the higher maintenance fee at the Quantum is also because of reserves the association is collecting for and should come down with time and the 1800 club could go up as they do the same thing. Interesting, I believe the higher maintenance fee at the Quantum is also because of reserves the association is collecting for and should come down with time and the 1800 club could go up as they do the same thing.

]]> By: Samir from MiamiCondoRealty.com http://www.miamicondorealty.com/miami-condo-buying-tips/comment-page-1/#comment-2008 Samir from MiamiCondoRealty.com Sun, 05 Apr 2009 04:34:00 +0000 http://www.miamicondorealty.com/?page_id=369#comment-2008 I believe that the building at 1800 club is not fully insurred. So if you are buying with financing then your lender may require you to pay gap insurrance which is an upfront premium every year. This if you calculate in terms of square footage and monthly could result in additional cents per sq ft per month as a break down. I believe that the building at 1800 club is not fully insurred. So if you are buying with financing then your lender may require you to pay gap insurrance which is an upfront premium every year. This if you calculate in terms of square footage and monthly could result in additional cents per sq ft per month as a break down.

]]> By: PJ Gohel http://www.miamicondorealty.com/miami-condo-buying-tips/comment-page-1/#comment-2007 PJ Gohel Sat, 04 Apr 2009 22:11:00 +0000 http://www.miamicondorealty.com/?page_id=369#comment-2007 Thanks Samir. Speaking of association fees, the fees at the Quantum are approx. 67 cents per SF while at the 1800 club they are approx. 43 cents per SF, why such a large difference? The amenties are comparable. Is it because the developer at the 1800 club has not handed over the building to the association? Thanks Samir. Speaking of association fees, the fees at the Quantum are approx. 67 cents per SF while at the 1800 club they are approx. 43 cents per SF, why such a large difference? The amenties are comparable. Is it because the developer at the 1800 club has not handed over the building to the association?

]]> By: Samir from MiamiCondoRealty.com http://www.miamicondorealty.com/miami-condo-buying-tips/comment-page-1/#comment-2006 Samir from MiamiCondoRealty.com Wed, 18 Mar 2009 18:39:00 +0000 http://www.miamicondorealty.com/?page_id=369#comment-2006 PJ - where did you hear that. You should not think they are 40% higher in all cases. Here is how it works. When it is your primary residence you will qualify for a $25,000-$50,000 homestead exemption. You will deduct this from your taxable value before the tax rate is applied. Also if it is your primary residence then your taxes are capped at a maximum 3% increase per year. If it is not your primary home, then the exemption does not apply and the cap is maximum 10% increase per year. PJ – where did you hear that. You should not think they are 40% higher in all cases. Here is how it works. When it is your primary residence you will qualify for a $25,000-$50,000 homestead exemption. You will deduct this from your taxable value before the tax rate is applied. Also if it is your primary residence then your taxes are capped at a maximum 3% increase per year.

If it is not your primary home, then the exemption does not apply and the cap is maximum 10% increase per year.

]]> By: PJ Gohel http://www.miamicondorealty.com/miami-condo-buying-tips/comment-page-1/#comment-2005 PJ Gohel Wed, 18 Mar 2009 12:36:00 +0000 http://www.miamicondorealty.com/?page_id=369#comment-2005 Also I am told that when you an out of state resident, like I am a resident of New York state, taxes on my property will be approx. 40% higher than a resident of Florida- something to keep in mind for the snowbirds. Also I am told that when you an out of state resident, like I am a resident of New York state, taxes on my property will be approx. 40% higher than a resident of Florida- something to keep in mind for the snowbirds.

]]> By: Samir from MiamiCondoRealty.com http://www.miamicondorealty.com/miami-condo-buying-tips/comment-page-1/#comment-2004 Samir from MiamiCondoRealty.com Fri, 13 Mar 2009 07:42:00 +0000 http://www.miamicondorealty.com/?page_id=369#comment-2004 PJ Gohel - Thank you for the kind comment. I wish you the best as well. PJ Gohel – Thank you for the kind comment. I wish you the best as well.

]]> By: PJ Gohel http://www.miamicondorealty.com/miami-condo-buying-tips/comment-page-1/#comment-2003 PJ Gohel Fri, 13 Mar 2009 01:16:00 +0000 http://www.miamicondorealty.com/?page_id=369#comment-2003 I have spoken to Samir a few times and am extremely impressed by the depth of his knowledge on Miami realty, specially waterfront properties. The energy and passion that Samir brings with him will serve him well both as a buyer's as well as a seller's agent. I wish him the best. I have spoken to Samir a few times and am extremely impressed by the depth of his knowledge on Miami realty, specially waterfront properties.
The energy and passion that Samir brings with him will serve him well both as a buyer’s as well as a seller’s agent. I wish him the best.

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