Condo Assessments and that Reserve Study
Episode description
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Don't buy a condo before listening to this podcast. If you buy that perfect condo without diving into reserve study and assessments, you could find yourself in big trouble. Many people have walked away from their condos because very large assessments have been required to complete deferred maintenance on their properties.
The large condo complex that collapsed in Florida is a great example of a building that was falling apart and the HOA did not manage the property by accruing funds every month for eventual maintenance. The result, the building was destroyed and people died.
Learn more about what you should do before you sign up to buy your condo.
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