Before signing a contract, look for these warning signs cited by Redfin :
Your attorney reviews the condo’s offering plan, financial statements (looking for "red flags" like pending litigation or low reserves), and board minutes. buy condo new york
High HOA/Common Charges cover building staff and amenities but can increase if the building has a small reserve fund. The 4-Phase Purchase Process Before signing a contract, look for these warning
While condos cannot "reject" you like co-ops (they only have a Right of First Refusal), you must still submit a comprehensive financial application. Before signing a contract
Most condos permit 90% financing (10% down), though luxury buildings may require 20%. Select FHA-eligible units may allow as little as 3.5% down.