Before You Buy Your Condominium

If you’re looking to buy a condominium, you may have a lot of questions about association living. You’ll want to make sure the property as a whole is being properly and responsibly maintained.

Key Questions to Help Condominium Buyers Make Informed Decisions

  • Can I see this year and last year’s financials/budget?
  • How much are the monthly assessments?
  • What portion of the units are owner occupied?
  • Is the community compliant for FHA sourced financing?
  • Are there any current or pending legal actions?
  • Are there any capital replacement or repair projects planned?
  • How much money is in the reserve account?
  • When was the last reserve study done?
  • Can you supply a copy of the Declaration and Bylaws?
  • Can you provide me with minutes from the most recent board meeting and last annual meeting?
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