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So you want to buy a condo?

By
Real Estate Agent with RE/MAX ESTATE PROPERTIES DRE#00856344/01412581

Thinking of buying a condo?

Here are a few tips!

  • Fireplace? Is it gas or wood burning?(wood burning are harder to maintain and messier)
  • Bathrooms? How many? How big? Two full baths is a large selling point
  • Parking spaces? How many? How about guest parking for those of you who like to entertain
  • Amenities: Does it have a pool, health club, club house spa? Will you actually be using them?
  • What are your common-area costs? Are they realistic or can you expect them to rise?
  • Is there is a view? Is it guaranteed? Check with your Realtor and the city to determine the appropriate zoning,etc.
  • Who built it? How is their reputation? How old is the building?
  • What is the foreign-investor component of the building or the pre-sale mix? Too much offshore can signal a risk. Such foreign investors are usually most pragmatic and more willing to take a loss than an owner.
  • Is the building secure? Are the patios and or first floor condos units secure? Also, units near the stair wells make it easier for a burglar to escape.
  • Always ask to see a copy of the buildings financials and minutes. Are there any strange expenses?
  • Meet the property manager to determine how responsive they are.
  • Check the reserve fund and for signs of a future assessment.
  • What kind and how much insurance does the association carry? What does it cover? Better yet what doesn't it cover?
  • Check with the property manager to determine what the delinquency rate is on association dues. If many residents aren't paying their fees in a timely manner something may be amiss.
  • Does the board expect any special assessments in the future?
  • Talk to the residents find out how they like living there, what if any complaints they may have
  • Ask your Realtor for demographics on the building
  • Always throughly review the CC & R's
  • Do you have pets? Can you at this place?
  • If you are a investor determine the rental policies of the association. Determine how much you can rent your unit for.
  • Look for a unit with a high percentage of owner occupied as opposed to tenant occupied units.
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THE TYNDALL TEAM at RE/MAX ESTATE PROPERTIES

63 Malaga Cove Plaza, Palos Verdes Estates, CA 90274

 

CONTACT US:

cell: (310)872-6358

email: Kathyandrachel@gmail.com

 SEARCH ALL HOMES FOR SALE IN PALOS VERDES AND THE BEACH CITIES

*all information deemed reliable but not guaranteed “Based on information from the Association of REALTORS®/Multiple Listing as of [date the AOR/MLS data was obtained] and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.”

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