: Request the last three years of financial statements and HOA meeting minutes. Watch for repeated complaints about broken items (deferred maintenance) or lawsuits.
How to Buy a Condo: Ultimate Guide for Buyers - The Hollinden Team we buy condos
Standard home inspections often only cover the unit interior. For a condo, you must look at the "big picture." : Request the last three years of financial
Before touring, you must determine if the building's finances match your own. For a condo, you must look at the "big picture
: One-time fees for major repairs like roofs or elevators. Phase 2: Due Diligence & Inspections
: Lenders often reject buildings with too many rentals (investors), ongoing lawsuits, or low occupancy. Seek out FHA-approved communities if using an FHA loan, as many complexes do not qualify.
: Hire an inspector who specializes in condos. Ensure they check electrical, plumbing, and shared systems like elevators or roofs if possible. Phase 3: Lifestyle & Rules (CC&Rs)