March 28, 2008
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Home Owner’s Questionnaire…Good Stuff.
So here is the scenario. You decide to buy a condo. You are a first time home buyer. You’ve gotten pre-approval for a loan amount, you’ve teamed up with a real estate broker and you are on the Internet ( 87% of buyers and sellers head to the web) and in your car( 67% drive the area, check the neighborhoods and I do this as well).You’ve found the one you really like, made your offer, negotiated the deal and you’ve got a contract. So you know you like the location, you like the floor plan, you can have a dog, there’s a pool. But what else do you need to know?I posted a great and thorough questionnaire on http://www.condocando.com/ that I picked up at Countrywide. It’s pretty detailed but I like detail especially when it comes to condominiums and town homes. You need to know before you buy how many investors there are…if the complex or building is complete? (Sound strange? It has happened.)Can the project be expanded beyond its current size? That’s really good. Is there any commercial space designated in the project? This has happened after the fact. Are there any pending lawsuits? Assessments being discussed or forthcoming? Catch my drift?
An ounce of prevention is worth a pound of cure. Download the form or ask your mortgage broker for their company’s questionnaire. Ask the questions, read the documents.Documents, you say?…Discussion on the way!
Lynnsy Logue, The Real Estate Lady and CondoCanDo in Charlotte, NC
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