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Everything you need to know about buying condominium unit?

Updated: 8/18/2019
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14y ago

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When you decide on a particular condominium unit, you can research these documents and otherwise learn more about the community into which you're buying:

  • Read the last three years' worth of board meeting minutes
  • Review the last three years' worth of financials
  • Obtain proof of the master insurance policy and recent claims against it
  • Obtain proof of flood or earthquake insurance, if appropriate
  • Review the envelope inspection and resolutions of construction defects
  • Review the Reserve Study and its funding amounts
  • Request an explanation for the funding level of reserves
  • Chat with current resident owners to verify that you're buying into a lifestyle that suits you
  • Pay an inspector to inspect the interior of the unit you want to buy
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