Buying a condo
Looking at condos?
- Yes
- Maybe
- Just comparing
You're buying the HOA too
The unit is half the purchase. The other half is the association: its dues, its reserves, its rules, and whatever it hasn't fixed yet. A healthy HOA is invisible. An unhealthy one turns into a special assessment with your name on it.
$30,000 − $4,999 = your money.
The seller pays about $30,000 to the buyer's agent on a $1M home. We keep $4,999. You get about $25,000. You still get a real agent from start to finish, and it costs $0 up front.
Run your numbersBased on a $1M San Diego home where the seller offers 3% to the buyer's agent. Applied to closing costs first. How much can go to you beyond that depends on your loan. Estimate only, not a guarantee.
What to read before you remove contingencies
The reserve study, the last twelve months of minutes, the budget, any litigation, and any special assessment already voted. Reserves funded under 30% is a warning. Minutes are where the roof and the plumbing show up long before the disclosure does.
What would you do with an extra $25,000 at closing?
Lower your monthly payment. Cover your closing costs. Keep more cash in the bank. With SelfCloze, the fee the seller pays your agent mostly comes back to you. You pay $0 up front, and if you don't buy, you pay nothing.
Get my rebate estimateBased on a $1M San Diego home where the seller offers 3% to the buyer's agent. Applied to closing costs first. How much can go to you beyond that depends on your loan. Estimate only, not a guarantee.