Condo Purchase

Dated: 10/15/2016

Views: 110

Ask for a budget

"Most condo buyers don't think of it, but you need to ask for a copy of the association's budget," Berger says.

The association is not likely to give buyers a copy of the budget, but the seller -- as an owner -- can request a copy and provide it to the potential buyer.

The most important parts of that budget include the total amount of outstanding debt owed to the association and the percentage of owners who are not paying their dues.

Read more:http://www.bankrate.com/finance/real-estate/know-before-you-buy-condo-1.aspx#ixzz4NBU8JuUw

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