What items might be important for a buyer to review when they are considering buying a condominium or home in a common interest development?
Condoguru:Certainly, the governing documents are a given. The governing documents are defined in these web pages and include the regulatory documents and rules and regulations. There are other things that a prospective buyer could look at that would give them some idea of the status of matters within the association and how well it is run, like financial documents, minutes, etc.. However, a realtor and prospective buyer have to understand that the association cannot freely send out information of a private nature, for example, rules, policies, minutes of meetings, etc., without the seller making the request or giving written authorization to the buyer to get the information, since the seller is the one that has the legal relationship with the association. Find out more on this issue by searching the articles, publications, FYIs, legal briefs and form pages.
