What are home assessment fees?

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What are home assessment fees?

07-10-2008, 04:21 AM

Marquoz

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Quote:

Originally Posted by STI Jaguar

Lets say that the condo assessment fees is $400. What does this mean?

Is this the amount that you would have to pay on top of your mortgage every month?

Are those the condo assossiation fees? If so, then yes you do. It is usually for the upkeep of the condo. Condos also sometimes have special assessments that are for a limited time for large repairs. So not sure which one the 400$ fee is, if it's a monthly fee, or a limited time fee until they pay off a repair bill.

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