Estimated Condo Ownership Costs Flashcards
equity membership costs $______ with an additional $_______ non-refundable capital contribution to the ORC.
$250,000 ; $15,000
Annual dues cost $______ plus ________ and a $_______ annual capital assessment.
$10,861 ; taxes ; $3,245
Equity membership is _______ at _____ of the prevailing rate at time of reissuance.
refundable ; 80%
Taxes are paid to ________________________ and estimated to be 1% of ________________.
Monroe County ; property value
Ocean Reef Club Community Association (ORCA) Fee is paid __________ by all property owners ranging from $_________ to $_________ depending on category of home or dock. This fee covers _________, ___________, ___________________ and common areas within the gates.
annually ; $5,098 ; $9,239 ; security ; fire department ; road maintenance
Condo Association Fees are paid ___________. These vary according to association and the ____________________________.
quarterly ; exterior ground facilities
Utilities - water - are typically paid by who?
The condo association fees
electric and _____________ are according to _______________________.
telephone ; personal use
Cable TV is approx. $____ plus tax monthly for _________________________ and cable TV which is billed _____________ through _______. Additional premium channels billed directly by ______________________.
$35 ; internet ; annually ; ORCA ; cable service provider
When considering closing dates for condos, what should you be mindful of?
End of month - because they do have to pay the full association fee