Any tips as to what to stay away from, etc?
2007-01-04 13:54:35 · 8 answers · asked by Caribou2 1 in Business & Finance ➔ Renting & Real Estate
make sure it doesn't have termites and mice
2007-01-04 13:57:01 · answer #1 · answered by ? 7 · 0⤊ 0⤋
YOU MUST CHECK THEIR FINANCIAL STATEMENTS!!! Each condo association has to manage their management fees including subcontracting property management, paying water, master insurance bills and saving money for capital improvements like when it comes time to replace the roof, sidewalks, driveways/parking lot. If they don't have a capital improvement fund be prepared for some heavy assessments in your future with each problem that comes to exist. If the financials look bad ... and the condo isn't brand new ... run away!
Also get a hold of the minutes of past condo association meetings to see if and how often residents have been assessed extra money over and above their monthly fees. You might find some other interesting information about life in the condo by reading the minutes (i.e. other problems that have arisen and how they have been dealt with). The seller may not have these things handy for you to peruse, but don't make an offer until you have approved these documents ( or make it a contingency in the offer).
2007-01-04 23:18:15 · answer #2 · answered by linkus86 7 · 0⤊ 0⤋
NEIGHBORS. If you get problem ones your life will be a nightmare. Trust me.
Also, what type of cars are in the parking lot? Newer models? Old, broken down models? This can tell a lot about who lives there.
Find the ratio of renters to owners. More owners, better involvement in the property.
Look for assessment fees, as well as monthly maintanance fees. Affordable? Where is this money going? Get a statement from the condo association.
Does the property look generally updated or does it need paint/work? Landscaping good or are there needs to be addressed? This may signal that condo fees are not properly used.
Call local police dept and ask if complaints are registered for the area. What is the selling price/rate?
Good Luck in your search......
2007-01-04 22:02:17 · answer #3 · answered by mmturtle 5 · 1⤊ 0⤋
A condom ? or a dwelling ? If you are talking about a dwelling, then look at the damn rules ! Some are so stupid, you may not believe them. Make sure you like the place. See the place after work hours and listen for noise. It is a lot like an partment and some of your neighbors can be damn noisy. Some Condos used to be aparments that were recharacterized as condos. Look at the parking spaces, some totally suck, you can barely squeeze in and out. If you have assigned spaces make sure you know who parks next to your spot and be sure is not the guy with the Hummer. Look at the homer owner association fees, those things can be damn expensive, look to see if you have your own washer and dryer hooks ups. If you have to use a common area washer and dryer you are only one step away from living in an apartment.
2007-01-04 22:00:42 · answer #4 · answered by Anonymous · 0⤊ 0⤋
CONDO ASSOCIATION FEES.. and what you get for it.
Local property taxes.
how many are on sale in the market? Is the price 'fair' compared to the area it is located in.
It's usually hard to resell a condo and make big money.
you might make some, but...more than not.. depends on location.
2007-01-04 21:57:18 · answer #5 · answered by guitarfreak 1 · 1⤊ 0⤋
make sure is a top floor and look for monthly condo fees and aso look i to location for future in case you have to sell
2007-01-04 22:11:54 · answer #6 · answered by Gagandeep S 1 · 0⤊ 0⤋
Well Tv's, beds, couch, other furniture, and buy a juccusi i have always loved those. ice maker.
2007-01-04 21:57:39 · answer #7 · answered by GoGirl 1 · 0⤊ 1⤋
massage cream
2007-01-04 21:57:17 · answer #8 · answered by Superman 2 · 0⤊ 1⤋