Discover Venice and Sarasota Florida

Considering buying a condo in the Sarasota, Venice, or Englewood area? Take the time to research the community, review the condominium rules and regulations, and study other facts to answer these questions.

Whether you have bought a condo at the beach, in a golf course community, or a gorgeous condo with an elevator on the water, the questions remain the same. It does not matter what type of condo you have in mind; ask these 20 questions before you buy. 

1. Condition?: What is the condition of the unit, the building, and the entire complex?
2. Common Areas? Are common areas well-maintained?
3. Are units available for sale? How many condos are for sale?
4. Owner Occupied? What percentage of the units are owner-occupied? (Lenders may not give you a loan if most of the units are rented)
5. Condo Fees? How much are the condo association fees, and what do they cover?
6. $$$ Reserves? Does the association have adequate reserves for emergencies and renovations?
7. Is the insurance policy current? Has renewal occurred prior to its expiration? This just happened to one of our transactions. Watch out if you finance your purchase!!
8. Lawsuits? Are there pending lawsuits against the association or judgments you might have to help pay? Pending lawsuits may prevent loan approval.
9. What does the association’s insurance cover? You may need supplemental insurance to protect everything else.
10. Debt? Does the association have any outstanding debt?
11. Arrears? What percentage of the units are in arrears on their dues?
12. Special Assessments? Will you be responsible for any special assessment fees for building improvements when you purchase?
13. Neighborhood? What’s the neighborhood like?
14. Parking? Does the unit come with reserved parking? Is there adequate extra parking for guests?
15. What is the pet policy? How many pets can you bring?
16. Storage? Will you have extra storage space for bikes, kayaks, paddleboards?
17. Management? Is the association managed by a qualified professional company?
18. Rent? Do association rules limit your ability to rent the unit?
19. Age restricted: Is this a 55+ community? Check who can buy.
20. Restrictions? Will restrictions prevent you from changing visible elements and making alterations to the building?

Depending on your personal situation and preferences, there can be more important questions to ask. This is a pretty good list of the most important questions to ask. We helped many buyers with a Condo purchase.  We have gained considerable experience through past deals and remain current with changes. Let us help you navigate through the entire transaction. Don’t hesitate to contact us with your personal questions.