What should I watch out for when buying a condo?

1. 58

   rieomposted 14 years ago

   What should I watch out for when buying a condo?

   replyreport
2. 63

   1scottcarsonposted 14 years ago

   Make sure and find out how many owners are occupying the property and not just investors.  Also, if the condo has been established for a while, check out to make sure the condo's HOA is up and running and funded properly.  The last thing you want to do is buy a condo when the HOA isn't funded properly and the maintenance of the property then falls on the owners instead of the HOA.

   replyreport
3. 67

   Moon Willow Lakeposted 14 years ago

   I've heard a lot of condo docs have some ridiculous rules to "abide" by; and no matter how few there may be today, they could change at any time. I'm not interested in living in one because I think the condo docs are a way of taking away rights that we all deserve to have. Plus, some condo walls can be as thin as some apartment walls.

   replyreport
4. 64

   swedalposted 14 years ago

   Two of the main things, ensure that the condo association is approved for the type of financing that you are utilizing. Then take a long hard look at the financial status of the hoa to guard against future special assessments and ensure they are financially solvent.

   replyreport
5. 61

   Jangaplanetposted 14 years ago

   think you should get it inspected real good before deciding anything.
   http://hubpages.com/hub/golden-rules-of … eal-estate

   replyreport
6. 61

   Just About Itposted 14 years ago

   Spend a lot of time understanding the HOA and how it functions. It can be a nightmare to live somewhere that is poorly maintained and the Board of Directors aren't performing the duties they volunteered to accomplish. I will never buy into an HOA again where I am not responsible for the roof over my head and the outside walls of my home.

   replyreport
7. 49

   jackdohsonposted 12 years ago

   First of all you have to check that the company or organization which you are hiring for buying condo is reliable or not and are providing all the facilities related to condo or not. I made contact with the New Condo company in Singapore for buying new condo and they offered me the best services.

   replyreport