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5 Tips for Buying a Condominium or Co-Op

Before purchasing a condominium or co-op, Larry prepared a list of 5 important things to consider and question to ask before buying:

1. Ask about the financial condition of the association or co-op. You can request a copy of the latest financial statements and budgets. You can find out about the ratio of owners to renters, pending special assessments, and recent sales.

2. You, or your attorney, can ask if there any pending lawsuits against the association.

3. Review the association bylaws and rules to determine restrictions related to renting, pets, guests and children.

4. Hire an inspector to check the condition of the unit including electrical, heat, and plumbing. You should find out about the soundproofing of your unit (Can you hear your neighbors above, below or adjacent to your unit.)

5. Buyers should talk to other unit owners at the condominium. They may be able to find out the pros and cons of the property.  Ask what they liked and what they wish they could change.

    Get a Free Case Evaluation By An Experienced Real Estate Attorney – Call 954-458-8655

    Contact Larry Tolchinsky to find out how he can help you. You can contact him by phone at 954-458-8655 or by e-mail through this web site to schedule an appointment and learn more about Florida Real Estate Law. He offers a free initial consultation.

    Want to Know More?

    To learn more from Larry and to see all of the real estate matters he can help with, read his Real Estate Lawyer page.

     

     

    Read: 19 Reasons To Hire a Real Estate Lawyer When Buying or Selling Florida Real Estate (From Our Blog)

     

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