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What to know about a condo’s finances and building safety before buying

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The amount of money wanted varies by the dimensions, age and situation of a constructing. Usually, Nordlund says, if an estimated reserve fund is over 70 p.c funded, that’s thought of good. A poorly managed affiliation has 30 p.c or much less of what’s wanted, he says. For instance, Affiliation Reserves’ examine for the Surfside apartment earlier than it collapsed revealed that simply 6.9 p.c of wanted reserves have been funded.

https://www.washingtonpost.com/residence/2021/11/11/investigating-a-condo-before-buying/?utm_source=rss&utm_medium=referral&utm_campaign=wp_business | What to learn about a apartment’s funds and constructing security earlier than shopping for

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