Columnist Bob Bruss offers up “10 key questions smart condo buyers should ask (but condo sellers hope their buyers don’t ask)”:
1. What is the financial condition of the homeowner’s association (HOA)? 2. What is the percentage of renters in the complex?
3. Is the condo complex professionally managed?
4. How do the monthly fees compare with similar nearby condo complexes and what services are included?
5. Has your condo seller prepared a defect disclosure report?
6. Has the condo unit been professionally inspected?
7. How good is the soundproofing?
8. Has the seller complied with applicable statutes?
9. Are there any special contracts or long-term leases affecting the condo complex?
10. Are there any negative influences to consider?
If you’re interested, you might want to read the full column today (free access at Inman through the end of the day and then by subscription only).
And while we’re currently working on a piece concerning the percentage of renters in a building (#2), we would like to believe that all of our readers already know the importance (and impact) of soundproofing (#7). [Note: there are now 5 units for sale in the 22-unit Midtown at 1452 Bush].
∙ 10 questions to ensure good condo purchase [Inman News – $]
∙ Eighteen Percent Of (The) Midtown For Sale [SocketSite]