Buying a Condo

Investing in Beach Real Estate 

    

When buying a condominium home, you assume a portion of any liabilities of the Homeowner's Association.

Homeowner Association: An improperly managed condominium can expose you to significant financial liability, especially if the Association is Owner Managed; while the Board of Directors of Owner Managed communities may be professionals, they generally do not have a background in real estate and community associations.

Common Property: Poorly maintained components such as the roof, building-envelope, elevators, etc. can cost HOA members $1000’s in assessments.

Legal: Pending legal issues such as lawsuits & foreclosures can result in hefty "special assessments" that the HOA members must pay.

Financial: A lack of financial planning by the Board of Directors can lead to an inadequate Reserve Fund, requiring current HOA members to fund the repair & replacement of major components out of their pockets.

I’m a consumer advocate & referral agent with a lifetime of real estate experience; I've owned, managed, sold and inspected real estate for over 25 years. If you're planning to invest in a condo, or just have a real estate-related question, I'm available at no cost to you - contact me anytime.

  Wayne Moore
·  AL Lic. Real Estate Broker
·  FL Lic. Home Inspector, HI-7584
·  FL Lic. Community Assoc. Manager (Inactive)
·  AL Lic. Home Inspector, HI-0019 (Inactive)
·  Cert. Rehabilitation Inspector, SBCCI 1996
·  InterNACHI Certified Home Inspector, 2016
·  Cert. PCO - Termites-Household-Industrial, 1990
·  Commercial Real Estate Inspector, FREA 1996
·  EPA Radon Measurement Proficiency, 1994
·  FL Wind Mitigation Certificate, 2013
·  ASHI Certified Inspector, ACI 2004
·  Lead Hazards in Residences, 1994
·  Asbestos Building Inspector, 1992
·  FAA Certified Remote-Drone Pilot