Tips For Buying a Condo
Caveat Emptor, “Let the Buyer Beware”
Alabama & Florida are “buyer beware” states that require diligence by the buyer – always work with an agent that will protect your interest. Other important considerations…
Membership in a Homeowner Association (HOA) is mandatory – HOA members are subject to special assessments by the Board of Directors (BOD).
Poorly maintained components such as the roof, building-envelope, elevators, etc. can cost HOA members $1000’s.
Legal issues such as lawsuits & foreclosures can expose condo owners to significant liability.
Poor planning by the BOD can lead to a depleted Reserve Fund, requiring HOA members to fund the repair & replacement of common property via special-assessments.
A Home Inspection can save you money by identifying defects, and also documents the current age & condition of the major systems.
A Home Warranty offers peace of mind, it makes sense for everyone – no one knows when a component will fail.
Investing in resort real estate is complicated – contract negotiations, tax-exchanges, income-analysis, HOA issues and other considerations. If you’re buying resort property or have a question regarding real estate, I can help – contact me.
· Lic. Real Estate Broker, 1989
· FL Lic. Inspector, HI-7584
· InterNACHI® Cert. Home Inspector
· AL Lic. Inspector, HI-0019 (Inactive)
· Cert. Manager Community Assoc., CAI 1999
· FL Lic. Community Assoc. Manager, 40948
· Reg. Environmental Prop. Assessor, NREP
· Cert. PCO – Termites-WDO-Household, 1990
· Commercial Real Estate Inspector, FREA 1996
· EPA Radon Measurement Proficiency, 1994
· Certified Building Inspector, SBCCI 1996
· FL Wind Mitigation Certificate, 2013
· Lead Hazards in Residences, 1994
· Asbestos Building Inspector, 1992