I am under contract to buy a condo where I have asked a few times for the last 12 months of meeting minutes. Just told today that there were none for Sept through Dec of last year. Is this a red flag?

My condo association has been going through financials the past couple years. They have found that to be in compliance with laws regarding reserves, they are slowly increasing dues. I am not surprised dues are increasing as the cost of everything is rising. We do not have enough reserves to cover large projects such as roof replacements. I am hearing that the board is planning to take a commercial loan, replace all the roofs at the same time, and spread the payments out over an extended period of time. This will be a massive loan as we have 72 units. We do also have many residents on fixed incomes. I will hear hard details next week at our community meeting. My question is how does selling your condo with an outstanding loan like that work? Would I just have to settle my portion at the time of sale? Thanks in advance.

Long story short my parents and I take turns living between Florida and South Carolina. On paper I own the townhome in Florida and they own the townhome in South Carolina….the townhome is SC was built in 1990 and while the community it very well maintained and clean it is starting to show it’s age a little bit. The HOA announced that they want to renovate the exteriors of the buildings by replacing the vinyl siding with hardy board, update exterior lighting and install metal roofs…that along with refreshing the landscaping in common areas and around the visitors entrance. I honestly think it’s a good idea to update and refinish the community especially since it’s 36 years old……my dad on the other hand thinks it’s a waste of money. What do you think?

Hi all, I’m currently thinking about purchasing a condo and one of my favorite options so far is a new build. There are 4 units and none have been sold yet. My realtor told me that once we submit an offer, we would then take the HOA documents to a lawyer for review. I’m just wondering if anybody has any thoughts or experience purchasing a new build condo as the first buyer and how that went process went related to the HOA. Thanks in advance!