Questions to Ask a Condo Board | Orlando Short Sales & Foreclosures

Purchasing a Condo?

Written by admin on 10 March 2010

Questions every Orlando Condo Buyer should ask the Board of Directors before they purchase!
Questions to ask your condo board

INTERVIEWING A CONDOMINIUM BOARD

When you buy a condo, you will join the Home Owners Association. An HOA is comprised of all the owners of the units who establish and administer the rules and regulations that will be observed. These rules and regulations cover a variety of areas, but it is important for you do know from the beginning what they are and how they may affect you now and in the future.

When you have narrowed your condo choices down it is important that you take the time and effort to carefully review they by-laws and ask the necessary questions to determine which condo association fits your expectations. It just may make that final decision an easier one to make. Your lawyer can assist you if you have questions.

Condominiums can run into trouble if a number of units are facing foreclosure or there are members no paying the HOA dues. When this happens financial reserves are depleted resulting in insufficient funds to finance the day-to day operation of the condo or complete important major upgrades that have been planned. This has occurred in some areas across the country.

Read Also: Long Beach Condo Buyers Beware!

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