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CONDO/COOP/HOA
 DOCUMENTS REVIEW

Know what you're buying.

Buyers of condos and coops in the DC area receive a package of documents containing a number of different documents including the condo declaration, bylaws, rules and regulations, budgets, reserve studies, financial statements, insurance information, and other documents relating to the running of a community association. 

Whether you are buying in a 2 unit building or a 400 unit building, you'll want a full understanding of the documents and the state of the association so that you can make an informed decision about your purchase. Why? 

  • You may want to rent the unit out at some point and should know if there are any restrictions on doing so. 
     

  • You want to understand the financial health of the condominium to know whether any special assessments may be forthcoming and if there are any other issues that may post a financial risk to you. 
     

  • Do you have a pet? Does its weight satisfy the condo rules? 
     

  • What's the building condition?  Are there plans for (and is there money to pay for) capital improvements
     

  • Are you purchasing a new condo directly from a developer? Is there a condo association yet? How will the developer work with you during that crucial first period of time? 
     

  • Is there anything else amiss with the documents that could cause you financial harm down the road? 

 

I can review your condo or coop docs so that you go into your transaction knowing what you're buying and confident in your decision. DC buyers of resale condos only have a three-day review period - I can turn around my review in as little as 24 hours!

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