This document provides a snapshot of the unit's legal and financial standing. 5. Make an Offer and Negotiate
Contact a lender for pre-approval, which strengthens your offer and clarifies your price range.
Note that condo financing is different from house financing. Lenders will evaluate the financial health of the entire condo association, not just your credit score. 2. Hire a Specialist Real Estate Agent how to buy a condo
Calculate what you can afford, including mortgage, taxes, insurance, and monthly HOA fees.
Buying a Condo - What should I be asking/looking for? : r/halifax This document provides a snapshot of the unit's
Review meeting minutes for the past 1–2 years to identify upcoming repairs (roof, windows), complaints, or potential lawsuits.
Look for a healthy reserve fund (a good rule of thumb is at least 25% of gross income in reserve) to avoid future special assessments. Note that condo financing is different from house financing
Consider amenities (pool, gym) versus costs, location, and parking.