lorem ipsum bla bla

Freddie Floats Free Fees!

Posted by admin | August 15, 2011

Trying to clear the backlog of condos that clog the market, secondary lender Freddie Mac announced today that it will give qualifying buyers $1,500 to cover future condo fees.

Are there strings attached to this kind offer? You know it!

  • You have to get your deal in order between now and Nov. 15, and you have to close by  Dec. 15
  • You have to buy a HomeSteps condo that has been on the market for at least 120 days
  • You have to live in the condo. No investors and no flippers! 

As conditions go, these are reasonable.  Condo fees typically range from $200 a month for a townhouse complex that covers basic services and your roof, to $600 or more for hotel-type amenities such as a doorman, gym, and a party room. Even at the steeper rate, a fee vacation would be welcome.
Keep reading for more about condo fees and how to read between the lines of condo documents.

Image courtesy of Morguefile contributor kevinrosseel.