Скачать или смотреть What are Special Assessments ?

In this video Amanda McMillan and Samuel Ciochon delve into the nuanced implications of special assessments on condominium ownership and transactions, emphasizing their impact on both buying and selling properties. Special assessments are additional charges levied on condo owners for significant projects or to replenish reserves, which are not covered by the regular monthly fees. The discussion highlights the distinction in handling these assessments between smaller, low-rise buildings and larger, high-rise buildings, particularly in downtown areas. Smaller buildings, due to their limited budgets, often require special assessments for major repairs or upgrades, likening their financial management to that of a single-family home. In contrast, larger buildings, with higher monthly fees and professional management, are expected to plan and budget for big projects more effectively. The video also touches on the challenges special assessments pose for sellers, who must strategize on disclosing pending assessments to potential buyers, and for buyers, who face financing hurdles with lenders wary of additional liabilities.

🟥 SUBSCRIBE: https://bit.ly/3RVAjSy


🟦 About

Are you a first-time Chicago homebuyer, home owner or real estate investor?

Subscribe to our channel to gain insight into current Chicago market trends, local topics impacting home values, financing and the ability to make SMART real estate decisions.

As the #1 producing agent in the @properties Bucktown, Amanda is truly an expert in Chicago real estate. A data junkie, Amanda studies local, national and financial markets to position herself as both an educator and ally to Chicago’s home buyers and home sellers.

CHICAGO REAL ESTATE ACCOLADES:
$50M+ in closed volume annually
Consistently ranked among the Top 1% of Chicago Realtors for volume & transactions
200+ 5 star reviews on Zillow, Google and Yelp

In addition to Chicagoland, Amanda’s affiliation with Christie’s International Real Estate allows her to provide assistance across the globe. Whether luxury services, first time buyers/sellers, or investors, Amanda’s experience and guidance is unmatched.

#realestate #condo