Tuesday, July 07, 2009

Check out HOA finances before buying condo

Thanks to the economic downturn, condominium prices are dropping across the country. But if the homeowners association is in the red, a condo that looks like a steal can quickly become a money pit, leaving buyers on the hook for a lot more than they had bargained.

Read the article at Bankrate.com


11 comments:

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Smarry said...

Very nice articel......

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Smarry
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Mark said...

Interesting, especially with some HOA's now operating at a deficit there is a real worry about a special assessment. Be careful is the best strategy.

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Costa Rica Real Estate said...

Condos, well, who doesn´t want one, I would say that many people is taking advantage of the crisis to buy them cheap

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