September 20th, 2023 9:59 PM by Linda Holley
Are you considering buying a condo? Mortgage Lender David McLaughlin, Fairway Independent Mortgage Corporation, has some great advice for you.
The condo lifestyle offers numerous advantages, but to ensure a smooth deal, make sure you follow these three essential steps:
1. Check the Budget: Protect Your Investment!
Verify that the condo association has a healthy budget with at least 10% in reserves. This ensures financial stability and safeguards your investment for the long run.
2. Litigation Check: Avoid Surprises!
Investigate if there are any ongoing litigations within the complex. This step is crucial to avoid potential legal issues and unexpected costs down the road.
3. Master Policy Review: Roof Replacement Matters!
Inspect the master policy to confirm that the roof has 100% replacement coverage. This ensures that you won't be burdened with unexpected expenses in case of roof damage or repairs.
David McLaughlin, Fairway Independent Mortgage Corporation, 941-724-7653
Linda Holley, Realtor, GRI, SRES, CIPS, Fine Properties, 941-914-4914
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.