Condo Doc Review Period - Only Read These Sections of the Condo Docs
Автор: Matt Leighton
Загружено: 2016-12-02
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In this video, Arlington, Virginia real estate agent and Realtor discusses the different parts of the condo docs and which sections you should focus on. While it is advised that you read the condo docs in their entirety, there may be a few sections where you don't have to pay as much attention to.
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The main sections to focus on are the Financials, the Budget, and the Meeting Minutes.
The Financials section will go through income statements and will show you the breakdown of money coming in and going out on a year-to-year basis. You should be provided with at least last year's income statement, and hopefully a few of the previous years' statements as well.
The Budget will be a line-by-line expense report of what the community is spending its money on. This should give you a good idea on how much it costs to run the community and if there are any extravagant expenses.
The Meeting Minutes will give you a sneak peek into the current state of the community. The condo association meets regularly (usually monthly) and submits a summary of the meeting known as Meeting Minutes.
Video location: East Falls Church Metro, Arlington, VA
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Matt Leighton - Arlington VA Real Estate Agent
Licensed in VA and D.C.
Century 21 Redwood Realty
1934 Wilson Blvd
Arlington, VA 22201
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