New Condominium Homes Listings For Sale in Gulf Shores, Orange Beach, Perdido Key Florida

Resort Real Estate

Beach Homes & Condominiums

Real Estate Investing


Buying a Condominium 101

Beach Resort Property


Caveat Emptor
Let the Buyer Beware
 
Investing & Owning a Condominium Home

Homeowner Associations (HOA)

Condo owners are required to be members of the Homeowner Association, the Board of Directors (BOD) have the legal authority to issue special assessments & fines, place a lien on a property, and even foreclose.
More Info: Homeowner Association 101

Lifestyle Restrictions

The Covenants, Conditions & Restrictions, and any rules implemented by the BOD, restrict the use of a condominium, e.g. decorating, rentals, pets, visitors, use of common areas, etc.

Common Property

HOA members own an undivided share of the common property and are responsible for an equitable portion of the repair and maintenance expenses; poor maintenance of the facility can result in $1000’s of unexpected expenses.

Financial Planning

HOA’s should have a periodic reserve study performed to assess the physical condition of the property and ensure the reserve fund is equitable & meets the future needs of the community.

Legal Issues

In addition to general liability insurance, the HOA should have a Directors and Officers Liability Insurance Policy payable to the Association, as indemnification for losses resulting from negligence, fraud, or conflict of interest by the BOD.
More Info: Board of Directors 101

Property Defects

An Inspection can save you money by identifying defects, and documenting the age, condition & life-span of the major systems.
*The Seller or Agent should reimburse you for the cost of an inspection.

Peace of Mind

A Home Warranty offers peace of mind, it just makes sense for everyone – no one knows when a component will fail.
*The Seller or Agent should provide you with a warranty.

Experience Matters

Always work with someone that will protect your interest, and has experience in the various issues of resort property.

I’m a consumer advocate with a lifetime of real estate experience, if you’re interested in buying resort property, I can help –  contact me anytime.

Real Estate Broker/Consultant
Wayne Moore
· Realtor®
· AL Lic. Real Estate Broker
· AL & FL Lic. Home Inspector
· ASHI® Certified Home Inspector
· FL Lic. Community Assoc. Manager
· Florida Wind Mitigation Certificate
· Cert. Manager Community Assoc., CAI
· Reg. Environmental Property Assessor, NREP


PreferredPartner
™ · Smart Choice

  • Protects Your Interest
  • Free Home Inspection
  • Free Home Warranty