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Old 03-18-2014, 04:48 PM
 
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3350 Woodburn Rd Apt 34, Annandale, VA 22003 - Home For Sale and Real Estate Listing - realtor.com®

Mortgage, Coop Fee, and property tax add up to be $785 + $375 + $150 = $1,310 and that includes utilities and insurance.

Doesn't that sound like a great deal for a two bedroom condo?
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Old 03-18-2014, 04:53 PM
 
Location: Spartanburg, SC
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Did you notice it is under contract with no kick-out?
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Old 03-18-2014, 04:59 PM
 
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Quote:
Originally Posted by LynchburgLover View Post
Did you notice it is under contract with no kick-out?
I am not going to buy this condo. It is just an example. Do you think it's a good deal for what you can get for the cost?
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Old 03-18-2014, 05:07 PM
 
Location: northern va
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Slightly below average price for that community.

Can get additional 400+/- sq ft and extra bedroom for $200 more a month or so (in mortgage, condo fee increases with sq footage too)
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Old 03-18-2014, 05:25 PM
 
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Quote:
Originally Posted by kww View Post
Slightly below average price for that community.

Can get additional 400+/- sq ft and extra bedroom for $200 more a month or so (in mortgage, condo fee increases with sq footage too)
For the one I mentioned, is $1,310 all the cost the owner has to pay? Does the owner have to purchase insurance? Or are there any other hidden cost?

Last edited by Quaker15; 03-18-2014 at 05:34 PM..
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Old 03-18-2014, 05:29 PM
 
Location: Southern New Hampshire
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Depends. If it's built like a lot of apartment buildings, which means you can hear your neighbors cough, talk, have sex, etc., never mind them actually playing music or a TV with surround sound, then it's no bargain at all. If it was constructed well so you don't have to worry about such things, then it seems like a good deal.
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Old 03-18-2014, 05:31 PM
 
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The way I look at it is that a typical one bedroom apartment can cost that much in that area. And, that's just rent, excluding utilities, etc.

This is owning the place AND it has two bedrooms, AND it include utilities?
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Old 03-18-2014, 05:35 PM
 
Location: northern va
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Quote:
Originally Posted by Quaker15 View Post
For the one I mentioned, is $1,310 all the cost the owner has to pay? Does the owner have to purchase insurance? Or are there any other hidden cost?
Master insurance policy should be incorporated in the monthly condo fee. Some owners choose to add a secondary policy though.

What your monthly mortgage would be would depend on the loan program you use, along with your specific qualifications. Best bet is to have your loan officer run an estimated fees worksheet for the specific property.

Shouldn't be any additional hidden fees, assuming there isn't a special assessment pending.
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Old 03-18-2014, 05:39 PM
 
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Quote:
Originally Posted by kww View Post
Shouldn't be any additional hidden fees, assuming there isn't a special assessment pending.
Are there a lot of condos or coops like this in this general area?

It seems to me that there are more coops than condos in Northern Virginia, is that right?
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Old 03-18-2014, 05:42 PM
 
Location: northern va
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Quote:
Originally Posted by Quaker15 View Post
Are there a lot of condos or coops like this in this general area?

It seems to me that there are more coops than condos in Northern Virginia, is that right?
Woodburn isn't co-op, it's condo ownership.

Not a lot of co-ops in Northern Virginia, atleast that I deal with.
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