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Running a Community Association as a Democracy, Transition of Power Without a Condo Coup (FL)

When purchasing a residence in a condominium, homeowners association or a co-op, you by default agree to reside in a community association. You live in relatively close proximity to your neighbors and equally share the right to utilize common areas, whether it’s a lobby, pool, gym, parking lot and/or clubhouse. Monthly Association dues fund shared costs such as insurance, landscaping and security, among various other expenditures. This requires following a set of basic norms and agreeing to abide by an Association’s playbook, if you will.      Read the article………………………….

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Rates posted assumes 25% down payment, and an ARM rate first mortgage on a Florida condotel, primary residence. Additional required amounts such as taxes, insurance, home owner association dues, assessments, flood insurance or other such required payments should also be considered. Not all individuals will qualify for a mortgage loan. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. **Posted APR is based on Mortgage Assumptions
 
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