- How much are the monthly condo fees and what does it go towards?
- What are the specific rules of the condominium?
- How much is in capital reserves and how much gets funded every year?
- Are there current assessments in place or planned for the near future?
- How is the association managed: professionally or self?
- Is there any legal stuff happening that the condominium is part of?
- How many of the units are lived in by their actual owners?
- What’s the condominium fee delinquency rate?
- Check to see if buildings allow pets!
- Ask your lender if the condo you are considering, meets their requirement for a loan.
- Does your unit come with parking?
- Is there guest parking?
- If you plan to buy the unit as an investor, be aware of rental laws and regulations.
- Do you actually own certain common areas such as porches, decks, storage spaces and parking spaces, or are they use rights?
- The master insurance policy, what does it cover?
Living in Millburn-Short Hills NJ
and the surrounding areas
About Robin Benjamin
Understanding the nuances of pricing requires local knowledge that isn't always available to buyers and sellers. This is particularly true in a location like Millburn-Short Hills, Chatham, and Summit.
