The questions to ask when buying a condo found below are something every buyer should consider when purchasing this type of housing. I would be willing to bet that many of these questions are nothing that many buyers would have ever thought to ask. Purchasing a condominium is much more complicated than buying a house.
"You know when you buy a condo, they’re going to have access to it because it is built to code and those codes are kept up." The Cons HOA Regulations. Unlike people who are buying for the first time, people making the transition from owning a single-family home have to adjust to abiding by the homeowners association (hoa) regulations.
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home to the Camp Fire last November, life was finally looking up for Colleen Kahle. She was preparing to buy a picturesque condo in Ojai, the town she grew up in. “We were finally going to have some.
Tips For Buying a Condo Get Clear On How It’s Different. Research The Condo Association. Verify The Reserve. Are The Condos FHA Approved. Have Your Own emergency fund. find Out About The Neighbors. Think About Neighborhood Too. Talk About Maintenance. Go Big For Resale Value. Ask About.
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Every person thinking about buying a condo should know what a condo questionnaire entails. A condo questionnaire is a two-page set of questions that evaluate the financial stability of the building, look at the number of delinquent condo owners (who are not paying dues), foreclosures, the number of units owned by one person or corporation, the.
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Fannie Mae, Freddie Mac and the federal housing administration, which buy or insure most mortgages, do not approve condos with delinquency rates above 15 percent. In buildings that don’t meet that requirement, it can be extremely challenging to get a mortgage or refinance, says Orest Tomaselli,
Purchasing a condo is like joining a business arrangement with all the other people who own condos in the building. Because of this, condos.
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