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Facts About Jersey Shore Condo Associations

Buying a condominium is a major financial decision. If your condo is part of an association, then there are some facts you need to know about condo associations before making the decision to buy one. Your real estate agent can give you more information about purchasing Jersey Shore condos and about condo associations.

The owner of the condominium holds the title to the condominium unit only. This does not include the land beneath the condo. This is why one condo may be on top of another. In a condo association, you will share the title to common areas such as swimming pools, hallways, roofs, and exteriors of buildings.

If you buy a condo, you will be responsible for paying your own property taxes on your own individual unit. However, the condo association often will take care of the upkeep on the complex and collect fees from the owners of all Jersey Shore condos for maintaining the grounds.

Condo associations carry an insurance policy that covers the property where the condos are located and all the common areas. However, you should be aware that you will be responsible for insuring the inside of your own condominium. Your own insurance agent can give you information about what coverage you should be carrying for condominium ownership.

Ask your realtor about agreements that you must sign for the condo association. The documentation has all the details about floor plans, amenities, by-laws, rules, and maintenance you are responsible for. You will need to thoroughly review the documentation once you decide to make a purchase before signing it. If there is something in the contract you do not agree with, you will have to cancel the contract if you do not wish to make the purchase. Ask your agent about the particular laws regarding condominium contracts.

Jersey shore condos are wonderful properties to consider when looking for a home. You have many advantages when buying a condo such as being a part of a community and having the property maintained by the condo association. Ask your real estate agent about more information on available Jersey Shore condos.

If you find an attractive condo that is part of a condo association, take a walk around the common areas and ask the owners about living there. Look at the maintenance and the overall condition of the property. This will help you make a more informed purchase. Once you are happy that you have chosen the right condo, you can finalize the sale with your real estate agent.

Jersey Shore Condos – For the best in South Jersey Shore real estate and for a complete listing on homes and condos, visit the website at Atlantic City Real Estate | Condos For Sale in Mar gateeee, Longport, Jersey Shore & Ventnor, NJ – Linda Magarick, Realtor , call 1-800-636-4508, or email lmagarick@aol.com.