Review the Condo Docs

Reviewing the Condo Documents (For Condo Buyers Only)

If you are purchasing a condo, it’s essential to carefully review the condominium documents during the attorney review period to ensure you are making an informed decision. These documents provide insight into the building’s financial health, management, and rules, all of which will impact your experience as a condo owner.

What Documents Should You Review?
Your attorney will typically provide you with:
✅ Declarations & Bylaws – The legal framework governing the condo association.
✅ Rules & Regulations – Guidelines covering everything from pet policies to noise restrictions.
✅ Current Year Budget – An overview of the building’s financial stability.
✅ Meeting Minutes – Discussions from recent board meetings, which can reveal potential concerns.
✅ 22.1 Disclosure – A summary of the building’s financial and legal status.

Does This Apply to You?

• If you’re purchasing a single-family home or multi-unit building, this step does not apply.

• However, if your home is within a homeowners association (HOA), it’s still worth reviewing the community’s rules and regulations to understand restrictions on exterior modifications, noise levels, rental policies, and other neighborhood guidelines.

Why Reviewing Condo Docs is Crucial

When buying a condo, you are not just purchasing your unit—you are joining a shared community. Reviewing these documents helps you:

🔹 Assess Financial Health – Ensure the building has adequate reserves for maintenance and is not burdened by delinquent owners who haven’t paid their HOA fees.
🔹 Identify Upcoming Costs – Look for planned major repairs (roofing, plumbing, facade work) that could result in special assessments.
🔹 Understand the Building’s Rules – Pet policies, move-in procedures, short-term rental restrictions, and other community rules may impact your lifestyle.
🔹 Determine Rentability – If you plan to rent out your unit in the future, check for rental restrictions and the percentage of renters allowed in the building.

Pay special attention to the meeting minutes—they often reveal insider details on ongoing concerns, upcoming projects, or potential disputes within the community.

Next Steps: Reviewing & Asking Questions

1️⃣ Thoroughly read through each document and make note of any concerns or unclear provisions.
2️⃣ Consult your attorney if you need clarification or additional documentation.
3️⃣ Check with your mortgage lender about any condo-specific concerns they may have—some buildings may not meet financing requirements.
4️⃣ Email us with any questions or concerns, and let us know if:

• You’re comfortable moving forward

• You’re considering canceling the contract

• You need additional information before making a decision

Need Help? We’re Here for You!

If you have any questions or concerns about your condo documents, don’t hesitate to reach out. We’re here to guide you through this process and ensure you feel fully informed and confident in your decision.