Category Archives: Condominiums

House vs. Condo: Which One Is Right for You

For those who start out renting, the thought of purchasing a home usually occurs at some point down the line. After all, if you can have a a place to live and find a good investment, why not do both … Continue reading

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4 Essential Things to Consider When Buying a Condo

Condominiums remain popular housing choices, especially among those seeking a low-maintenance lifestyle while still enjoying ownership. Before purchasing a condo, however, keep these things in mind: 1) Fees and service charges – Make sure you know what’s included, anticipate large … Continue reading

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HOA Liens and Association Finances

Many properties built in the last 20 or 30 years were built in some type of HOA. This type of association often has as much (if not more) effect on the homeowners as the city or town in terms of … Continue reading

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Understanding Condo Finances

Prospective condo purchasers should look carefully into the financial health of a condo association prior to buying. The status certificate can help provide answers to important questions, such as: Is there a lien against the particular unit, or any fees still … Continue reading

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COSO – What is It?

COSO, or the Committee of Sponsoring Organizations of the Treadway Commission, is a sponsor of the National Commission on Fraudulent Financial Reporting. They’ve developed a standard framework of recommendations on internal controls that can be applied to any type and … Continue reading

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Using Proxies in Co-op/Condo Board Elections

A proxy is a document that is given by one person to another person so that they have the opportunity to vote at a meeting where they are unable to attend. The proxy names the person the missing attendee wishes … Continue reading

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Co-op & Condo Fraud: The Management Report

Being vigilant toward a management company revolves around one very critical tool: the monthly management report. This becomes the key information transfer tool that allows the board to keep track of what the management company is doing, and helps to … Continue reading

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