What to look for in a condo inspection

By
Real Estate Agent with Buyer's Edge Company Inc
https://activerain.com/droplet/4Y7Y

Living in a condominium means sharing some of the building maintenance responsibilities. The shared areas are called common elements. 

Penn Quarter Washington DC

In Washington D.C., the review period for condo documents is three business days. 

What to look for in condo documents & what to consider when buying a condo

  • Are there any special assessments? Special assessments are big projects like replacing elevators, windows, balconies and roof repair or replacement. 
  • Review the capital improvement fund. This is the money set aside so major projects can be funded. You want to know there is a sufficient amount of money in this fund.
  • Review the minutes from previous meetings. What are people on the board discussing? Are there major concerns the board is reviewing?
  • What utilities are included in the condo fee? Ask for a copy of a utility bill that is paid outside of the condo fee.
  • How does the condominium building look? Are the hallways clean and well lit? Is there an easy way to dispose of trash? Is there a storage area and/or bike room? All of these things are a reflection of how well the condo association keeps up with basic maintenance. 
  • Talk to neighbors in the building. You don't want to be too creepy about it but hang out in the lobby and hallway. Ask the condo owners if they like living in the building. Is the management company quick to respond to needs and issues? 

Here's a video of a condo home inspection featuring Jeff Pearce of The Pearce Group

 

Questions about buying a condo in Washington D.C.?

HomesBuyHendersons

Buyer's Edge

 

 

 

Posted by


4849 Rugby Avenue Bethesda Maryland 20814 office 301.657.1475 cell 301.922.1677

 

Victoria Henderson is Vice President & Associate Broker with Buyer's Edge, Exclusive Buyer Agent & Realtor in Virginia, Maryland and Washington DC. Victoria is a certified Military Relocation Professional 

 

 

Marshall Henderson is a Certified Negotiation Expert & Exclusive Buyer Agent with Buyer's Edge & Realtor in Virginia, Maryland and Washington DC

Certified Negotiation Expert

 

Members of National Association of Exclusive Buyer Agents

Not Just a Buyer's Agent, an Exclusive Buyer's Agent. There's a Difference. Learn more at: 

 HomesBuyHendersons.com & BuyersAgent.com

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Rainmaker
1,626,811
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Very informative post indeed. Thank you for sharing and best of luck!

Dec 15, 2016 09:58 AM #1
Rainmaker
297,390
Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

Hey Jeremy K. Frost Thank you for commenting! Condo ownership is a popular thing in this area and people need to understand what they are buying into.

Have a great week!

Dec 15, 2016 09:59 AM #2
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Victoria and Marshall

There are some excellent tips here. Living in a condo is very different from a single family detached house, and buyers have to be very thorough in their due diligence, both in terms of the inspection but also in reviewing condo docs (we call them HOA docs here).

Jeff

Dec 15, 2016 10:33 AM #3
Rainmaker
785,107
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Some good points to be looking for when buying a condo.

Dec 15, 2016 11:45 AM #4
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Victoria & Marshall

Some wonderful points and your video has been featured to the group:

EXPRESS WITH VIDEOS AT ACTIVERAIN

Bgpic02232010072739 l

Dec 31, 2016 10:32 AM #5
Rainmaker
297,390
Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

Thank you Robert Vegas Bob Swetz Hope you have a wonderful New Years Eve!

Dec 31, 2016 02:07 PM #6
Ambassador
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Same to you ...

Photography by Robert Swetz

Dec 31, 2016 05:32 PM #7
Rainmaker
297,390
Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

Thank you Jeff Dowler ! When buying a condo or into an HOA, it's a little like being part of an extended family. You have to agree to the rules, bylaws, financial plans etc. Not a fit for everyone.

Have a wonderful New Year and best of luck in2017!

Jan 01, 2017 05:52 AM #8
Rainmaker
297,390
Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

Thanks Nick & Trudy Vandekar Hope you have a wonderful 2017!

Jan 01, 2017 05:52 AM #9
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Rainmaker
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Victoria Ray Henderson

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