When buying a condo be sure to look into the financial status of the owners association. Investors should certainly be aware of what association dues are but also what special assessments owners may may face in the future. Are adequate cash reserves being maintained for funding things like roof replacements? Are association financial statements and copies of board meetings available? Knowing what was discussed in recent meetings can be useful in assessing the association and what financial obligations owners may face in the future.
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Buying a condo? Check out the association first!Leave a Reply |
