Thursday, October 16, 2008

Special Assessment Escrow?

Just thought I'd mention this as another tool to use on the Buyer's side. I represented a buyer earlier this week at a closing and we used this to sock away $5k just in case there's a special assessment in the next six months. In my particular situation a review of condo board minutes over the last year suggested a couple big projects may be happening soon so I just wanted to protect my client. But in a soft real estate market why not use this as the default position on the Buyer's side. Protect your client for another year.


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