Asking The Right Questions When Checking Out Condos For Sale

The first thing you need to do after deciding you want to invest in a condo unit is to look for condos for sale that would fit your budget and needs. This is not only to ensure that you buy the right condo unit for you but also to ensure a smooth and flawless buying process.

It is extremely important that you carefully investigate each condo unit that you are considering buying. Look at all the benefits and potential problems that you might encounter throughout the buying process as well as when you finally move into the unit.

Here are some questions that you could ask yourself to help you in considering and choosing which among the many condos for sale you really want to buy.

1. Do any of the rules and regulations conflict with my lifestyle?

Every condominium building has their own set of rules and regulations. Make sure you ask for a copy of their rules so you can review them. The rules are written in legal documents that may be called bylaws, master deed, or house rules. You might also want to review the corresponding fines or reprimands for every broken rule. Some condo associations require fines to be paid when a rule is broken.

2. How is the homeowner’s association fees utilized?

Aside from your monthly installation payment on the condo building, you are also required to pay homeowner’s association fees every night. The amount you pay may vary per year per condo building association. The condo building association determines the amount of monthly fees charged to every condo unit owner depending on various factors. Find out how it is calculated and what it is spent on. Usually, this is what the condo building association uses to pay for continued maintenance of the building as well as for emergency repairs.

3. Who do you call for emergency repairs?

Part of the services of condo building association is to provide you with repair services anytime you need it. This is also where part of the monthly homeowner’s association fees is allocated on. When looking at condos for sale, inquire about how the condo building association goes about repair problems and other issues a tenant might have. Keep in mind, however, that not all condo building associations hold responsibility for paying for the repairs made to a condo unit. But they should be responsible for paying for the necessary repairs to common areas of the building.

4. What types of insurance policies that the condo building provides?

This will help guide you plan and pick out what other insurance you need to get for your condo unit should you pursue with the buying process. This is most especially true if you plan to buy from a high-risk area where hurricanes and flooding is common.

Learn more about condos for sale the condo buying process by contacting Jerry Pinkas Real Estate Experts now.