Top 10 things to look for in a Town Home Association

Buying a town home or condo where all the exterior maintenance is covered by the association fee can be a very attractive option for buyers that don’t have the time and/or energy to worry about mowing the lawn/gardening, etc.  As you take a look at the options available, it is important to make sure the association is financially healthy and the building/grounds are maintained well.

The top 10 things to look for are included in this list.

  1. Get all the required documents including the declaration, articles of incorporation, bylaws, rules and regulations, any amendments.
  2. Get a full understanding of the disclosure statement that details the accounting for the association.
  3. You should receive a re-sale disclosure for the particular unit you are buying so you can see that the seller is up to date in paying their dues to the association.
  4. Within the documents listed above, you should learn if there is any open litigation against the association.
  5. Within the documents listed above, you will learn what insurance company insures the property and what is covered within the insurance policy.
  6. Examine the condition of the windows
  7. Examine the condition of the siding
  8. Examine the condition of the roof
  9. Examine the condition of the landscaping, sidewalks
  10. If you figure out what the community will need to repair or replace in the next 5-10 years – you want to make sure they are planning for these repairs or replacements in the budget.

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