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Things to Know Prior to a Condo Purchase

Monday, May 16, 2011

Condos like Las Olas Beach Club are typically a “safe bet” when exploring condos for sale to call home.  Just like you would a traditional single family home, there are things you should be aware of regardless of how highly regarded a condo may be.  With the ups and downs of the market, risks have increased considerably.

If Las Olas condos like the Beach Club sound appealing, do take a look at the minutes of the board meetings.  There may common problems that several owners are not pleased with which could affect your decision or perhaps impending projects you weren't aware that could also sway your decision.  This will give you a good idea of what you may or may not be willing to live with.

Delinquency rates are also an important factor to be aware of. If several owners aren't making their association payments, there may be an underlying problem such as an association that's underfunded or a large portion that are unhappy for whatever.  Delinquency can potentially make it tougher to sell a unit if you're dealing with delinquency.

Again, these problems are virtually non-existent at a building like Las Olas Beach Club.  Being aware of them however can make your search for Fort Lauderdale condos significantly easier and not to mention safer.

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