5 BIGGEST MISTAKES PEOPLE MAKE WHEN BUYING INTO A CONDOMINIUM OR HOMEOWNER ASSOCIATION
- THEY DON'T READ THE GOVERNING DOCUMENTS:
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.
