|
o
The condominium has professional management services.
o
The condominium association finances are in order with no large
outstanding debts or planned assessments.
o
Reserves exist and are being collected to be available for the necessary
future maintenance or to cover any problems that might arise.
o
The condominium association is currently in full control of all
condominium property or will be after the developer has built out.
o
The monthly association fees are reasonable for the services provided
and are comparable to similar condominiums in the area.
o
The condominium association has sufficient liability and hazard
insurance for the property.
o
The condominium association has not been and currently is not involved
in litigation.
o
The buildings and common areas are well maintained.
o
The walls and floors between units are constructed to provide good
soundproofing.
o
Obtained and read all the bylaws, conditions, covenants, restrictions, &
rules documents and found them acceptable.
o
Obtained information on how property taxes are paid and found it to be
acceptable.
o
Less than 20% of the units are classified as rental units.
o
Discussed with other homeowners what they like and dislike about their
condo and the homeowner's association.
o
Found the condominium satisfactory and proceeded with the 'Buyer's
Checklist'.
|