Review the Covenants, Conditions, and Restrictions (CC&Rs) for pet restrictions, renting rules, and parking restrictions. 4. Review Condo Documentation (Crucial Step) Before finalizing the purchase, you must review:
Review meeting minutes for the past 1–2 years to identify upcoming repairs (roof, windows), complaints, or potential lawsuits. how to buy a condo
Look for a healthy reserve fund (a good rule of thumb is at least 25% of gross income in reserve) to avoid future special assessments. Review the Covenants
Calculate what you can afford, including mortgage, taxes, insurance, and monthly HOA fees. and Restrictions (CC&Rs) for pet restrictions
High owner-occupancy (rather than renters) usually indicates better maintained property and makes financing easier.