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5 BIGGEST MISTAKES PEOPLE MAKE WHEN BUYING INTO A CONDOMINIUM OR HOMEOWNER ASSOCIATION

  1. THEY DON'T READ THE GOVERNING DOCUMENTS:
    • DECLARATION
    • BYLAWS
    • RULES



   2.  THEY DON'T CHECK OUT THE DEVELOPER (IF IT IS A         NEW COMPLEX).



    3.  THEY DON'T TALK TO THE RESIDENTS TO SEE WHAT         THE ENVIRONMENT REALLY IS LIKE.



   4.  THEY DON'T CHECK OUT THE FINANCIAL PICTURE OF         THE ASSOCIATION---IS IT ADEQUATELY FUNDED? DOES         IT HAVE RESERVE FUNDS? ARE THERE ANY SPECIAL        ASSESSMENTS NOW OR PLANNED? HOW MANY OWNERS        ARE DELINQUENT?



   5.  IS THERE A PROFESSIONAL MANAGEMENT COMPANY
        OR IS THE COMMUNITY SELF MANAGED? THE
        RESPONSE TIME FOR REPAIRS AND PROBLEMS MAY
        BE BETTER WITH A MANAGEMENT COMPANY.


Kay Senay is the author of CONDO BUYING & OWNERSHIP MADE SIMPLE:
TIPS TO SAVE TIME & MONEY
.
Visit the "BOOKS" link to order.