Quote:
Originally Posted by lorenavedon
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This is pretty much why it's crucial to have someone inspect your condo docs when you are looking to buy one. You spend a few hundred dollars to do it, but you can find and avoid these types of traps. Even if there is no giant assessment looming, you'll get a much better long term picture of what's to come. When we bought our condo, I was able to negotiate another 5k off our accepted offer because our inspector saw that the reserve fund was on the low side and that they would probably try to boost it up soon... and sure enough, 6 months in there was.