Buying a condo requires due diligence

By Vallee Gold Team • September 1st, 2008

If you are considering a condo purchase consider contacting the Home owners Association board the following questions:

1.  What percentage of the condos are owner-occupied? What percentage are rented out? The higher the percentage of owner-occupied holds better resale values.

2.  Ask for a  copy of the bylaws and CCR"S or the restrictions that govern the property.

3.  Are there any assessments? Do they have a reserve fund? Ask for the financials.

4.  What does the monthly HOA fee cover? Typically you will find that it covers the common areas, recreational

facilities, and trash collection.

5.  How often do the units turn over for resale?

6.  Talk to the residents and ask questions.

 For more information about Tucson real estate call Don or Kathy Vallee of RE/MAX All Executives. Click here to view condos in Tucson, Arizona.

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