How would someone select a good condo?

Inadequate maintenance can be a sign of financial trouble that could translate into higher condo maintenance fees and delays in resale the of the property later.

Identify condos that are well-maintained and in good condition. Try to determine to the financial well being of the condo association.

Things to you will want to consider:

• Ascertain the latest condo association financial statement. Make sure nothing looks unusual.

• Find out from the board of directors if major repairs or improvements are imminent. If so, determine what they will cost and if there is enough money in the reserve to pay for them.

• Make sure by-laws, rules and the covenants, codes and restrictions (CC&Rs) don't prohibit or restrict you from live the way you want. Some condos restrict pet ownership and renting units. In some units, the board has the right of first refusal on unit sales.

•Determine the owner-to-tenant ratio.You see, many condominiums are purchased as rental investments and there could be a large number of renters in the building.

• Get to know the homeowners association, including any legal disputes or possible conflicts. Read the minutes of previous condo association meetings.

Remember a condo will be a great investment, but only if you choose the right one!