- Joined
- Oct 10, 2008
- Messages
- 3
Hello all
,
I am currently in the process of possibly purchasing a 1 bedroom condo unit for an investment property and I am seeking advice on doing my due dilligence. I know that purchasing a condo is and can be very different from purchasing a conventional single family home. With the condo association reserve funds and the whole structural and mechanical condition of the building, how does one do proper background checks and homework when making such a purchase. I know it is important hiring an inspector for a property inspection, but how feasible is it when purchasing a single condo unit. Can the inspector give me an assessment of the overall condition and health of the building? As well as when determining how good the condo association is, is this even possible to find out?
If any members have any experience or info with condos, I would greatly appreciate your help! Thank you!
Jamelle Alexander
Edmonton
I am currently in the process of possibly purchasing a 1 bedroom condo unit for an investment property and I am seeking advice on doing my due dilligence. I know that purchasing a condo is and can be very different from purchasing a conventional single family home. With the condo association reserve funds and the whole structural and mechanical condition of the building, how does one do proper background checks and homework when making such a purchase. I know it is important hiring an inspector for a property inspection, but how feasible is it when purchasing a single condo unit. Can the inspector give me an assessment of the overall condition and health of the building? As well as when determining how good the condo association is, is this even possible to find out?
Jamelle Alexander
Edmonton