Condominium Beginner's Guide

Buying: Condominium Beginner's Guide

  1. Condo costs include:
    • Down payment, mortgage and property tax.
    • Condo fees, otherwise known as maintenance fees. Condo fees are paid by every resident to help with the maintenance of the building, pay the salaries of groundskeepers, concierges or handymen, and provide luxury facilities such as a pool, gym or rooftop garden. Condo fees are paid monthly and are subject to change.
    • Special assessment fees. These fees may be requested when an unexpected repair or planned modification exceeds the cost of the condo fees collected.
  2. Rules to live by:
    • Condominiums are governed by a set of rules called Covenants, Conditions and Restrictions (CC&Rs). The rules vary from one condominium development to another. They may impose restrictions on pet ownership, noise levels, remodeling projects, and renting. The CC&Rs are enforced by the condo association.
  3. Condo associations vary in their organization and expertise.
    Some questions you may want to look into are:
    • Does the association maintain a reserve of funds to pay for unexpected and potentially expensive repairs?
    • Has the association maintained the building in good repair?
    • Does the association have plans to add any facilities, such as a swimming pool or gym, in the near future? This could cause a sudden increase in your fees. Ask to see the minutes of the last few condo association meetings which should reveal any such plans.
    • Does the development have any pending legal actions?
    • What is the condo association’s reputation in the building among the owners?

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I have worked with Carolann Clynes on both the buy and sale side for a few residential properties. Carolann provides 5-star service on every aspect of your real estate transaction -- from the initial discussion of the property to when the property changes hands … and beyond if needed, as well. ... Read More
rachelrodino , Morristown , New Jersey
...Carolann is fabulous. I told her she was my Realtor for life. Carolann: you have been wonderful. You are my realtor for life and I will recommend you to the world.
Sandra Sauls
We worked with Carolann for an extended period of time due to market conditions. In this overall challenging environment, we were very fortunate to have such a professional on our side when we were selling and also when we were buying. Carolann guided us through every step of the way with her experience and elegance. ... Read More
Louisa Li
We felt Carolann was the consummate professional. I cannot adequately explain how happy I was with her service. She is without a doubt the most educated, knowledgeable and professional real estate agent I have ever dealt with and this is my third home!... Read More
Thomas and Karen Devine 55 Dale Drive , Summit , New Jersey
Carolann Clynes did a tremendous job supporting us through a very difficult closing process. She also foresaw potential issues throughout the process and took preventative action early. It was comforting to know she was on top of issues.
Joseph Musumeci
I will always be grateful to you for facilitating that blessing in our lives. I am keenly aware of how hard you worked on my behalf and I am very thankful for your efforts.
Leslie Tunstall
Congratulations on your score of 69 out of a possible 70 points on our Buyer/Seller Survey
Jeff Fellers, Vice President, Coldwell Banker Summit Office
You were chosen to be on the Summit Place team because of your track-record for success and prior New Homes experience. You lived up to the task and have been a vital member of the sales team. It was a pleasure to work with you again. Thank you for all you did.
David Schoner, Director of Coldwell Banker New Homes Division
It is no wonder why I hold you in such high regard. YOU ARE THE BEST!
Judy Maloney
Thank you for your friendship, support and encouragement over the many long months of my transition. I hope that our friendship will continue beyond the recent real estate transactions.
Adele Vespa, Corporate Counsel to Coldwell Banker Residential Brokerage
Carolann was professional and sensitive to my needs to sell my mother's house after my mom passed away. Carolann has expert knowledge and a professional network to help with every step of the way...... I highly recommend Carolann to anyone buying or selling a home.... Read More
Valerie Leone
Selling in this market is a real challenge. Carolann is a go-getter that goes above and beyond to ensure her clients get the best deal. We had a particularly challenging transaction and if it had not been for Carolann, it never would have happened. I have seen her in action for many years on many deals. She is an A+.
Michael & Joanne Vernotico
As an attorney representing executors and families in the settlement of estates, and, occasionally, as the executor himself, I am pleased to recommend Carolann Clynes with the highest praise......... Read More
Joseph E. Imbriaco, Esq. Cooper, Rose & English, LLP
Fast, speed, moving, angling...results. Effort is for 12 year olds. You deliver results. That's the difference. That's what you're about Carolann. Love it.
Mark Gall
Dear Carolann,
Thank you for the countless things you did to help ensure the sale of my Aunt’s home. I have great respect and appreciation for all you do and how you do it. You are a gift to me and I treasure your friendship. Enjoy this gift and have fun.... Read More
Judy Maloney
…pricing strategy was excellent.... Read More
Jean and Leighton Andersen 81 Mountain Avenue , Summit , New Jersey
As an attorney representing executors and families in the settlement of estates... I am pleased to recommend Carolann Clynes with the highest praise. Her judgement and experience in advising executors as to the marketing of real property held in an estate and in formulating and implementing strategies is invaluable.
Joseph E. Imbriaco, Esq.
We could not have asked for a better agent than Carolann Clynes. She is extremely knowledgeable, particularly about the area we were looking in, professional, always diligently protected our interests, patient, and never pushy or overbearing. She is very personable and her warm personality made it a delight to work with her.
Dan Thorn-Leeson
Moving from Europe to Summit, NJ should have been extremely stressful, but CAROLANN CLYNES provided all of the help we needed - from finding the perfect neighborhood to locating a great house. Her professionalism and industry prowess made all of the difference in our search.... Read More
Constance Guindo / The Guindo Family
In the constellation overlooking my father's world, you have been one of the brightest stars; thank you for your help and friendship. I could not have made it without you.
Rich Little

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