# What to look at from the building/management when buying a condo?



## CuriousReader (Apr 3, 2009)

What kind of thing that we should look at / try to get more information when buying a condo unit?

I've heard things about reserve fund, etc ...


----------



## Berubeland (Sep 6, 2009)

I would suggest you go ask people in the building what they think. Ask at least 10 people what they think about living in the building. 

You need a reserve fund study and a copy of the minutes of the condo board meeting to find out if there are any upcoming issues.


----------



## GeniusBoy27 (Jun 11, 2010)

I think Berubeland says something useful ... look at the fundamentals of the condo corp and their business statements. My wife thinks I'm anally retentive looking at financial statements, because her eyes glaze over.

Some of our places have incredible reserves (1.5-2 years). With that type of reserve, you're doing amazingly well, if something catastrophic were to happen.


----------



## Maltese (Apr 22, 2009)

CuriousReader said:


> What kind of thing that we should look at / try to get more information when buying a condo unit?
> 
> I've heard things about reserve fund, etc ...


I suggest that you also get a copy of the bylaws and read them. They address many things that you may not think to ask.


----------

