A condominium association purchase agreement addendum allows the buyer of a property to receive all the information involved in the expenses and expectations related to owning the condo. The report lists the fees required to be paid to the community association and allocates expenses that are not included in the monthly or annual costs.
A condominium association purchase agreement addendum allows the buyer of a property to receive all the information involved in the expenses and expectations related to owning the condo. The report lists the fees required to be paid to the community association and allocates expenses that are not included in the monthly or annual costs.
Any assessed fees that are not included are to be paid separately by the owner. The provided information will also present the regulatory policy and guidelines for the property. The addendum assigns a time frame for the purchaser to review the association rules and costs to endorse and submit upon approval.
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