Buying a condo isn’t exactly the same as buying a home with a condo. You have to consider both the unit you are buying as well as the condo project as a whole.
Before you buy a condo, make sure you know the answers to some important questions.
- ask about the condo association’s rules and regulations
- be sure to request a copy for your review
- find out what the monthly condo fees are
- ask exactly what the fees cover and whether any of the owners are delinquent in their payments.
- ask about the financial condition of the condo association
- how much money is in the association’s reserve fund
- whether any special assessments are anticipated, ask if there are any pending lawsuits against the association
- what the association’s master insurance policy covers
- whether any of the units are currently in foreclosure.
Read Also: Dealing With Low Ball Offers
Lastly, talk to some of the current owners of other units. Ask them what they like best and least about their unit and the overall complex.
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One of the reasons to call the Agardi Team if you want to buy a home or have one to sell is:
Not only do we sell our clients’ homes for more money and faster than the average area agent, but your home is also more likely to sell. According to 2015 MLS statistics, only 71% of area homes sold during their listing term. Compare that to our 95% of homes listed that sold before the end of the listing term. YOUR HOME SOLD GUARANTEED OR WE’LL BUY IT*
To discuss the sale of your home, call The Agardi Team at 718-755-2882 and start packing!
*Agardi Team and the seller have to agree on the price and the closing date.
