▲
0
0
▼

Condos & Questions To Ask


               
2013 Jul 8, 10:03am   2,060 views  5 comments

by OnTheFence   follow (0)  

Hi,

Saw a short sale for a condo and will be looking at it Wednesday.

Never looked at condos before.

What questions should I be asking, specifically around the HOA funding?

I'd be purchasing the condo and renting it out, currently has a tenant.

Thanks,

SF

Comments 1 - 1 of 5       Last »     Search these comments

1   inflection point   @   2013 Jul 8, 12:38pm  

Some things I would want to understand in addition to will I have sufficent cash flow after I buy:
- available reserves in the HOA
- The number of units actually current on HOA dues
-The planned maintence schedule for the units (what major repairs are coming due and for what have they reserved.
-any active lawsuits against the builder or HOA.
- will the HOA rules let you rent it.
- How many of the units are rentals

That said I hate HOA's so I would stay on or behind the fence.

Comments 1 - 1 of 5       Last »     Search these comments

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   users   suggestions   gaiste