Thinking about buying a condo? If you are in the market for a condominium, pay attention to any “special assessments” placed on the property. A special assessment is generally a significant repair/update issue assigned to the condo owners. The condominium board votes on this assessment, and each condo unit is responsible for paying this fee. It is independent of the monthly condominium fee and can sometimes be substantial. Understanding any additional fees you would be responsible for before signing a contract is essential. If you have any questions, I’m here to help!