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Old 06-17-2007, 09:46 AM   #8
Incinerator
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Join Date: Apr 2003
Location: 30 minutes from the Red Mile
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Originally Posted by guzzy View Post

Most important. Every piece of literature or info mailed to you from the condo board needs to be held onto. Monthly minutes, reserve info etc. When you go to sell it can cost you 100's of dollars to retrieve all of the condo board documents. When you take possession and are given the original condo board documents, file them. When they start coming in the mail start filing them regardless of how little it may concern you. I got burned for about $300 when I moved out of my townhouse and I kept a lot of the documents.
You'll "get burned" for it regardless, the documents that have to be ordered from the condominium management company has nothing to do with the stuff you've so faithfully kept over the years. When you sell a place you need the most updated board minutes/management agreement/insurance cert./by-laws etc. etc. and these are only available through the management company. In fact, charging you $300 to photocopy 500 pages of docs is a MAJOR source of income for these guys, or else your condo fees would be another $50 a month to cover their margins.
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