Cover Your Asset Condos - U.S. CONDO NEWS

In the U.S. we're asking real estate agents to transact condos as if the investment is a single-family home, but the investment is something very different. Not only do many things get overlooked, it has also caused financial & personal devastation for many because of the lack of knowledge, understanding & regulation. With aging buildings, unfunded reserves, minimal knowledge & training & inconsistent state regulations, condo investing is only going to become more of a risk.

  1)  AN INSPECTION DOESN'T GIVE THE INFO NEEDED TO UNDERSTAND THE VALUE & CONDITION - YOU MUST SEE A RESERVE STUDY!
  2)  WHEN YOU PURCHASE A CONDO YOU ARE ALSO PURCHASING A BUSINESS (HOA) THAT OWNS & MANAGES AN ASSET (BUILDING) - YOU MUST DO EXTRA DUE DILIGENCE & THE RE AGENT CANNOT ASSIST!
  3)  APT & COMML BLDGS ARE REGULATED, BUT CONDOS HAVE ALWAYS BEEN LEFT TO SELF- MANAGE!

The ultimate goal is to protect condo consumers until the appropriate fiduciary, education & legislation is in place in America.