Friday, January 17, 2020

Questions Buyers Should Ask Of a Home That is A Part of An HOA


Here is a list of questions that I tried to get answered when I list a home within an HOA.  And when I represent a buyer I try to get these answered as well before we put an offer on the home. 
  1. Name of the complex?
  2. Name of mgmt. the company, and contact information?
  3. How much is the HOA, and what does it include? water? gas? earthquake insurance?
    maintenance? 
  4. Are there any current or upcoming assessments?
  5. Are there any pending/recent/upcoming major repairs expected?
  6. What kind of insurance coverage is there on the building? what are the limits? do
  7. What are the % delinquencies in for the HOA dues?
  8. What are the reserves?
  9. Is there any pending litigation?
  10. Is the building FHA approved?
  11. How many units are in the building?
  12. What is the ratio of owner/occupied vs. non-owner occupied units?
  13. Is there any one person/investor that owns more than 10% of the units? 
  14. Do you allow pets? Type? Size? 
  15. How many parking spots? tandem or side-by-side? 
  16. Any storage? 
  17. Please describe the amenities the building has (rec room, pool, spa, other) 
  18. Please describe the amenities of the unit (updates, view, granite, wood floors, security system, other) 
  19. Is there washer/dryer hook-ups in the unit? if not, can there be? 19. Are wood floors permitted in the unit? 

No comments:

Post a Comment