How to buy a condo with confidence
Look for a smooth-running organization
While you’re reviewing the condo board’s meeting minutes for signs of financial problems, look to see if other problems are being resolved quickly and effectively.
Taking care of maintenance issues is one of the board’s essential responsibilities.
Any repair should show up in the notes twice: first, when the board discusses it and decides what to do, and again when the bill is paid and the issue is resolved.
Maintenance issues reappearing month after month are a sign of an ineffective or dysfunctional board.
Frequent disputes with residents are another red flag.
Talk to people who live in the building. Find out if their needs are being met and issues are being resolved in a reasonable amount of time.
Neighbors can also provide an idea of the character of the complex.