Before you purchase a condo, you should have an attorney review property documents for you. However, you should contact the board yourself ahead of time. You’ll learn how responsive and organized its members are and be alerted to potential problems.
How many units are owner-occupied?
Generally, the higher the percentage of owner-occupied units, the easier the condo will be to resell.
What covenants, bylaws, and restrictions govern the property?
Carefully read the bylaws to determine if you can abide by them. Also, find out if there are grandfather provisions that allow current owners more rights than you would have as a new owner, such as the ability to rent out your unit.
How much does the association keep in reserve?
Ask how the…