| Important Things to Ask When Buying an Asheville Condo |
- Number of units in the complex?
- Percentage of owner-occupants?
- Percentage of unsold units?
- Monthly homeowner association dues?
- What do dues cover?
- How often have dues been increased?
- Any anticipated increase in dues?
- How many homeowners are delinquent in paying dues?
- Is there a fee for transferring association membership?
- What does homeowner's association insurance cover?
- Will you need additional insurance coverage?
- Is homeowner association professionally managed?
- Amount in the association reserve account? (Any large expenses anticipated?)
- Is the association involved in litigation? (Status and likely resolution?)
- How many common walls does the unit you are interested in share?
- Is anyone living below you? Above you?
- Are pets allowed in the building? If so, is there a maximum weight rule?
- Can you rent your unit out?
- Are there any restrictions that will cramp your style?
- How many parking spaces are included? Can you see where they are?
- What about parking for guests?
- How many storage spaces are included? Can you see them?
- What common facilities are included?
- What do current owners like best about the complex? (Interview current owners).
- What do current owners like least about the complex?
- How is the soundproofing?
- How are water pressure, heating systems, etc.?
- Does the developer have a good reputation?
- Are sales prices going up or down?
- How active are sales?
- Attend homeowner’s association meeting in your building.
- Review covenants, conditions, and restrictions.
- Review bylaws and articles of incorporation, or have an attorney review them.
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