Burnsville Lake Topics: Good advice

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	Name:	roswellric -
	Subject:	Good advice
	Date:	5/4/2009 8:05:38 AM

For any condo buyer. You are not only buying the condo but the assets & liabilities of the association. Don't buy one unless you can see a recent balance sheet on the association. Even then you have to make sure that the depreciation has been properly booked or you could be also buying some debt, deferred maintenace or inadequate reserves and future assesments down the road. If you don't understand the balance sheet see your CPA and then a qualified property manager who understands current conditions and costs to cure. The association should also have a schedule of replacements and required reserve deposits but only use that as a guide. Sometimes it's like government projections especially if it comes from the developer.

And REMEMBER!, the only thing you have to know about flat roofs is they only leak when it rains.

Other messages in this thread:

View Entire Thread

condo prices - boataholic - 5/3/2009 11:15:24 PM

condo prices - lucky67 - 5/3/2009 11:35:11 PM

Good advice - roswellric - 5/4/2009 8:05:38 AM

Good advice - wix - 5/4/2009 8:44:37 AM

Good advice - Spot Remover - 5/4/2009 9:12:20 AM

Good advice - boataholic - 5/4/2009 1:41:54 PM

Good advice - lucky67 - 5/4/2009 8:36:08 PM

Good advice - lucky67 - 5/4/2009 8:37:17 PM

Not Good advice - Dolemite - 5/11/2009 3:43:30 PM

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