All Forum Posts by: Curtis Preston

On the flipside - does it sound unreasonable that I take the deal and eventually pay the proposed special assessment?

I'm thinking:

* I can commit 7-10 years living here
* it's located close to work - 15 min commute versus 30 from the location of other condos on my list
* the location is highly walkable to grocery, restaurants, movies
* the assessment will be about 10% of my purchase price, not too unreasonable (or is it?)
* has washer/dryer unit

I realize a lot of you are investors but I just have this one condo I'm zero'ing in on to live in. If you could help out with any advice I'd appreciate it:

As far as I know, we should enter contract soon, but I recently found out there is a proposed special assessment which would be $20-25k for this condo.

My bid was without this in mind, and from what I understand, it is within reason that the bank did not know either.

How likely is it we (I'm working through an agent) can get the bank to drop their price 25k? Here's the numbers:

215 list
205 (likely to be accepted) bid
250 bank's appraisal (not sure from when)
20 to 25 for proposed assessment (from talking to one of the owners at the complex)