Monday, September 15, 2014

Do your due diligence when buying or building a condo


I feel terrible for the people that own units in this building. Not only have they been paying mortgage payments, property taxes and condo fees for a unit they cannot live in, now they are being told the building must be demolished at their expense. A very sobering reminder of why you need to read your condo documents in detail before you sign on the dotted line. I have a few lenders that are pretty picky about condo documents and I don't blame them. Who wants to be stuck with a mess like this? Read your condo docs, research your builder/developer. Make informed choices.