THE 20 QUESTIONS TO ASK WHEN PURCHASING A CONDO: #16 - #20
Welcome to our CYA Condos Series “The Top 20 Questions To Ask When Purchasing a Condo."
Today we are addressing what I consider to be the most important of the 20 questions, the final 5 questions, numbers 16-20.
These 5 questions talk the HOA and if you’ve been following us, you know the HOA is a business that you are purchasing into, so the due diligence required is the same as the due diligence you would do in any business purchase.
Especially because this business owns a large asset, the condo building itself. The tough part is, you are on your own when it comes to the HOA and building because a realtor is not permitted to guide or discuss this part of the sales transaction with you since it is not part of the actual real estate transaction.
Only the condo itself, the 4 walls, is considered real estate, and they will be there to assist with that, but you are on your own when it comes to the business, the HOA, and the asset or commercial building it owns, the condo building.
This is why I continue to say we have a missing fiduciary in the condo purchasing process.
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Here you’ll be able to see the many ways we can help from consulting, representing buyers and sellers, supporting agents, training, educating, connecting and collaborating with anyone who works in the condo industry and referring the best condo experts in all industries to help you enjoy your condo living, buying and selling experiences.
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