A MUST FOR THE BUYER!
Many owners end up confused and unhappy because they misunderstood what a condo really is. There are wonderful advantages to living in a community association. There are also disadvantages. You will be prepared to ask for the right information if you take a condo questionnaire with you.
Listed below are a few of the items you need to question as you investigate which condo to buy. The complete list is available in Kay's Exclusive Buyer's Checklists and in her book Condo Buying & Ownership Made Simple: Tips to Save Time and Money. The buyer's checklists are 8.5 x 11.
CLICK ON THE "BOOKS" LINK
TO PURCHASE EITHER ONE.
Declaration of Condo Ownership Questionnaire
- This document will give you information on the recreational facilities, parking, and maintenance fees.
- What maintenance is performed by the association and what is the owner's responsibility.
- Information on vehicles, pets, and leasing.
- What are the powers and duties of the Board of Directors?
- Is an annual audit by a CPA required?
Questionnaire for Additional Rules, Regulations and/or Resolutions Made By the Board of Directors
- How is the trash collected and where is the pick-up location?
- Can I have my own satellite dish?
- Are sale, rent and open house signs permitted?
- Is there an extra fee for using the recreational facilities or is usage included in the condo maintenance fee?
- How much are the violation fees for infractions of the rules?
- What is the maintenance fee for this condo?
- How much is in savings?
- Are there any current special assessments or are any planned and for what?
Questionnaire about the Physical Property
- How many condo units are there?
- Is the property in good shape?
- Is the unit near garages or carports where cars are constantly coming and going?
Questions to "Ask the Residents!"
One of the best ways to get the “flavor” of the community is to talk to those who live there. Feel free to knock on several doors, tell them you are a prospective buyer and you have some questions.
You should find out the age group of most of the residents, whether they have experienced any "surprises" while living there, and has there been any vandalism.
- Is there a play area for children?
- Are the residents friendly?
- Do you think the rules are fair and consistently enforced?
- Are your questions answered promptly?
Management Company Questionnaire
- Do you like how the property is being managed?
- Are your phone calls returned within a satisfactory time period?
- Are your issues taken care of promptly?
You'll want to know if pets are allowed and whether they have to be on leashes. Is staking or tying out of pets permitted and is soiling cleaned up promptly?
Are you satisfied with the landscaping and the snow removal contractors? Are maintenance issues resolved quickly?