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It’s really a bigger conversation about all condo units and boards. Sometimes the reserves are chronically underfunded and purchasers of resale older units don’
by 486sx33 2y ago
It’s really a bigger conversation about all condo units and boards. Sometimes the reserves are chronically underfunded and purchasers of resale older units don’t know the condition. Assessments and full transparency of previous board actions would be very helpful to have as required disclosure to future purchasers.
- NewJazz 2y agoHonestly having that sort of info available pre-escrow would be even better. Why do I have to put an offer on a condo before reviewing their reserve study? Shouldn't the study affect my offer amount?
- cozzyd 2y agoMy condo building used to have underfunded reserves because of the incompetence of accounting of older condo boards. After some significantt raising of fees by a more competent condo board, appears to be fixed now...