Review of condominium documents can minimize potential future surprises and problems.
The following are some examples,
- Are there pending lawsuits against the condominium board?
- Is there levy of special assessment? If so, who is responsible to pay? The seller or the buyer? Or both?
- Are there sufficient reserved funds setting aside for various types of repairs and maintenances of the condominium?
- Are there any issues that can be discovered from a careful review of the condominium board meeting minutes?
- Can you have pets on the premises according to condominium bylaw?
You may contact me for further legal advice.
Note: All postings in this blog are for information only, please consult a lawyer for proper legal advice.