A Few Questions to Ask Before Buying a Condo

As in buying a house, there are also risks involved when buying a condo, and these are questions to consider for a better chance of a good buy:

• Is the condo association professionally managed?
• Is the monthly fee comparable with nearby similar condo complexes?
• Has the condo unit been professionally inspected and did the seller provide a defect disclosure report?
• Ask residents, “What do you like best and least living here?”
• What is the financial condition of the condo association?
• Have there been any special assessments in the last three years?
• Are there any disputes among owners that the Association is trying to resolve?