Sinking Fund ?

[simcity]

i saw a add for a condo , price ***** , maintenance fee 30 bahts a meter square monthly and 35000 bahts thinking fund .

the sinking fund is for one time only ?

just curious

[trajan]

i saw a add for a condo , price ***** , maintenance fee 30 bahts a meter square monthly and 35000 bahts thinking fund .

the sinking fund is for one time only  ?

just curious

<{POST_SNAPBACK}>

A sinking fund payment should be a one time payment for a brand new condo...also when you buy a "prior-owned" condo, you should get a letter from the condo juristic person confirming transfer of the benefit of the sinking fund (associated with the unit you purchased) to you (not that you can withdraw it and spend it )..

in the future if there are any extraordinary expenses in the upkeep or renovation of the condo building or common areas (not covered by the ongoing monthly maintenance fees), the condo owners might collectively vote to impose a further charge on all owners on a proportionate basis.....