Questions to ask before you buy
Questions to ask before you buy
The following questions are questions that should be considered prior to purchasing a condo.
· What is the percentage of owner-occupied units in the complex?
· Have there been any special assessments in the last three years?
· Are there major maintenance or improvement projects anticipated in the next 12 months?
· Are there sufficient reserves to cover those expenses?
· Are there any current disputes among owners that the Association is trying to resolve?
· Is the HOA involved in any lawsuits?
· Are there any amendments to the condominium by-laws currently under discussion?
· What percentage of the reserves are available?
