Fully Investigate Condominium Documents

By
Real Estate Agent with Harborview Properties

These consist of Declaration, By Laws, Plat and Plan, Rules and Regulations, Meeting Minutes, Budget, Special Assessment Notices, Resale Certificate... Each of these has a wealth of information and may seem daunting to review. However, it is better to review now to determine if your 75 pound dog is too big or your desire to rent your place for a month is unacceptable. A rule of thumb is that the Declaration trumps all other documents so read that carefully. 

Much of the Declaration is "boilerplate" language discussing the formulation of the condominium association and granting the "declarant" (person who created the association) special rights. Unless this is a new building, this individual is probably not associated with the building anymore.

There will be notices of quiet time, acceptable use of different areas outside your particular unit, parking information, voting percentages for each unit... 

Stay tuned for more condominium thoughts and suggestions. 

Richard and Jean Murphy
MurphyTeam@HarborviewProperties.com

(207) 712- 4796  Cell
147 Fore in the Old Port
Portland ME 04101

Comments (2)

Harry F. D'Elia III
Avant Garde Residential Management Services - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I have to agree with you on this one--fully investigate before buying.

Aug 31, 2016 09:58 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

This is good advice for condo buyers. They should read all the documents carefully.

Nov 02, 2018 12:05 PM