Owning at FEE SIMPLE - what it means
Fee Simple almost always means that you are
Condominium ownership generally means that all exterior maintenance is paid by the Condominium Association to whom you pay a monthly or annual fee. You most likely would only need to
Simply put, a Fee Simple Townhome means when the Home Owners Association tells you that your deck needs to be painted you must do it and pay for it out of pocket. Same goes for Roof and other exterior maintenance as prescribed by the homeowners Association.
It is highly advisable that you obtain a copy of the Condominium Documents from the seller or Homeowners Association as well as the latest financial statement for the community. Knowing how much money is in reserve along with projected long-term community expenses is key to understanding if and when Homeowner Association fees may or may not increase on a monthly basis.
Real Estate/Leasing/Property Management