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Most townhouse/condominium communities require a buyer to pay a one
time non-refundable fee as a contribution to the association's operating budget. These
fees are usually 2-3 times the monthly maintenance fee and are collected at closing. In
addition, some associations require buyers to escrow a refundable fee equal to 2-3 times
the monthly maintenance fee.
Buyers should be made aware of these fees prior to closing.
For additional facts regarding buying or
selling a townhouse or condominium, call Smitha, your
Condo/Townhouse Expert.
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