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What should I know/ask when buying a condo?
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Date: September 22nd, 2018 3:23 PM Author: poppy locale (http://www.autoadmit.com/thread.php?thread_id=4084068&forum_id=2#36863992) |
Date: September 22nd, 2018 3:27 PM Author: 180 spot pro-tip, don't just visit it on a nice saturday afternoon. go back at night and see if the area is noisy, if there are crazy neighbors, etc. that's the type of stuff that disclosure laws don't protect you from.
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Date: September 22nd, 2018 3:27 PM Author: 180 spot also, find out what the reserve funds are and if there are any building wide issues that would cause a special assessment.
liens on the building, unit, etc. |
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Date: September 22nd, 2018 3:40 PM Author: poppy locale ty this is these are the type of issues i am curious about
the HOA fees on one i am looking at are pretty low
how do you determine whether there are building wide issues that would cause a special assessment? |
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Date: September 23rd, 2018 3:13 PM Author: Zombie-like Appetizing Station Review minutes from board meetings where they may have discussed whether to do those big repairs
Don’t settle for the least expensive cursory home inspection. It wouldn’t look at things like the big utilities-related items that can be expensive, termite damage, other common areas issues. |
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Date: September 23rd, 2018 3:18 PM Author: mustard cerebral shrine patrolman cr (http://www.autoadmit.com/thread.php?thread_id=4084068&forum_id=2#36870117) |
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Date: November 25th, 2018 9:42 PM Author: thriller church building very cr
don't wanna get hit with a special assessment up the ass right after moving in |
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Date: September 22nd, 2018 3:43 PM Author: Boyish Masturbator Feces nigger (http://www.autoadmit.com/thread.php?thread_id=4084068&forum_id=2#36864100) |
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Date: September 22nd, 2018 3:49 PM Author: poppy locale racist (http://www.autoadmit.com/thread.php?thread_id=4084068&forum_id=2#36864138) |
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Date: September 23rd, 2018 2:30 PM Author: poppy locale (http://www.autoadmit.com/thread.php?thread_id=4084068&forum_id=2#36869852) |
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Date: September 23rd, 2018 3:15 PM Author: Purple garrison How thick are the walls? Hearing your neighbors all night and weekend is hell. (http://www.autoadmit.com/thread.php?thread_id=4084068&forum_id=2#36870104) |
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Date: November 25th, 2018 9:39 PM Author: poppy locale (http://www.autoadmit.com/thread.php?thread_id=4084068&forum_id=2#37300144) |
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Date: November 25th, 2018 9:42 PM Author: hideous histrionic ticket booth Watch out if it is mix or commercial/residential
Also watch out if a high number of units are rented out.
Both these will restrict the condo eligibility for gov backed loans and can fuck you when you sell. |
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Date: November 25th, 2018 9:43 PM Author: poppy locale Ty would the agent have that info how many units are rented out? (http://www.autoadmit.com/thread.php?thread_id=4084068&forum_id=2#37300165) |
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Date: November 25th, 2018 9:45 PM Author: hideous histrionic ticket booth They should be able to find out. HOA should know. It's called Warrantability for FHA loan or something.
There is see percentage of rentals that is deemed too high and will be deemed non warrantable. Banks can't sell your mortgage to feds, so they keep loan on their books, worse rates and terms, they won't give to poors |
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Date: November 25th, 2018 9:49 PM Author: hideous histrionic ticket booth Really understand the HOA. I've seen most people get fucked on small HOAs under 10 units. Usually anything bigger will have a legit management company making sure things are being done.
Get board meeting minutes, look at financials, make sure there is reserve account with at least 2X annual expenses |
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Date: November 25th, 2018 9:43 PM Author: thirsty base ape make sure the in building gym isn't a clother gym. (http://www.autoadmit.com/thread.php?thread_id=4084068&forum_id=2#37300167) |
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Date: November 25th, 2018 9:48 PM Author: poppy locale the first thing i ask is whether hoa fees cover stimmers (http://www.autoadmit.com/thread.php?thread_id=4084068&forum_id=2#37300199) |
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Date: November 25th, 2018 9:58 PM Author: Aphrodisiac background story legend Covenants and Restrictions doc. Pets, trash cans, satellite dishes, parked cars, overnight guests, basketball hoops, soccer nets, lawn care fees, annual sprinkler system inspection. Also class actions against the builder for faulty installation or substandard materials. Edit - also resale certificate fee. Have seen some hit you for 2k when you go to sell. |