Resort swimming pool and palm trees

Costs and verification

An asking price is one part of the decision

Create a written cost sheet for each shortlisted interest. Mark unknown amounts as questions, rather than treating them as zero.

Questions to ask for each offer
Cost or factWhat to confirmUseful evidence
Advertised priceWhat interest and usage are included? Is the price an ask or an agreed amount?Current listing and written offer
Recurring chargesCurrent amount, billing period, due date and responsibility for the next billCurrent association or program statement
Other assessmentsKnown additional assessments or outstanding balancesCurrent ownership account and written confirmation
Transaction costsClosing, recording, transfer or enrollment charges that apply, and who paysItemized written estimate from the responsible parties
UsageAvailable year, dates, reservation status, banking and borrowing limitsProgram confirmation and ownership documents

Keep the periods consistent

A fee shown without its billing period cannot be compared reliably with an annual amount. Ask the broker to clarify the period and whether taxes or other charges are separate. For a rental, confirm the total stay price, dates, guest charges and cancellation terms in writing.

Know who is responsible

The MLS displays published information. The broker, seller, program and closing professional have different roles. Identify who will obtain each document and resolve a discrepancy before money changes hands.

The FTC explains recurring costs and resale scam precautions. Requirements depend on the interest, program and jurisdiction; ask for professional advice when needed.

Continue learning: Buyer guide · Costs and verification · Weeks and points · Glossary