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9 Issues To Consider BEFORE Buying a Condominium

Let Bruce Webb, Associate Broker, Coldwell Banker Preferred, assist you with purchasing your condominium! www.bruce@brucewebb.com bruce@brucewebb.com (734)392-6021

Posted Thu, Apr 11, 2013 at 5:03 pm ET|Updated Thu, Apr 11, 2013 at 6:00 pm ET

Why buy a condominium?

Make a list of all the reasons you want a condominium rather than a single family detached house.

Is what you're looking at really a condominium?

If you want a condominium be sure you're not buying a look-alike (ex: townhouse, zero lot line, etc..). Make sure it is technically a condominium.

Pay close attention to the covenants, restrictions, by-laws, indentures, etc..

Don't hesitate to contact the "Board of Directors" for questions and concerns.

This is the body who should be able to give you the facts on key issues that may be important to you and also make you aware of past problems.

Take time to learn the key rules governing condominiums.

Federal, state and laws all have a potential impact on your experience as a condominium owner.

The quality of constuction

A VERY important issue both in the short and long run.

Assessments and fees

Are the fees realistic? Too little is a problem waiting to happen...

What is the profile of the occupants who live there?

% owner occupied

% tenant occupied

Other demographics that are important to you.

Did you select a real estate agent that understands condominiums?

Pick a pro!

Bruce Webb, Associate Broker, Coldwell Banker Preferred

(734) 392-6021

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