Free HOA Check for Salt Lake Condos
When you buy a condo, you’re also buying into a small company: the HOA. It has a budget, savings, possibly debt, and a board making decisions that affect your dues and your home’s value. Before you buy in, it’s worth knowing whether it’s well run or underfunded. As an accountant and CFO, that’s exactly what I look at. A healthy HOA protects your investment. An underfunded one can mean a surprise special assessment, rising dues, or trouble getting a loan. Send me a listing, and within 24 hours I’ll send back what I see and the questions worth asking before you make an offer. There’s no cost and no obligation.
What I Look At
- Reserves: how much the HOA has saved for roofs, elevators, and other big repairs, and whether there’s a recent reserve study.
- Special assessments: any past, current, or planned assessments that owners have to pay on top of dues.
- Dues history: how dues have changed and what they cover.
- Delinquencies and litigation: whether many owners are behind on dues or the HOA is involved in a lawsuit, both of which can affect financing.
- Insurance: what the master policy covers and how large the deductible is.
- Rental rules: rental caps, minimum lease terms, and short-term rental limits.
- Loan eligibility: whether the project is FHA or VA approved, which matters for many low-down-payment loans.
How It Works
I start with the listing and public information. If you decide to make an offer, I’ll help you request the HOA’s budget, reserve study, minutes, and governing documents, and we’ll go through them together before your due diligence deadline.
This is a quick look based on the listing and public information, not a legal or financial opinion. A full review happens once you have the HOA’s documents.
Want more detail first? Read the Condo Buyer’s Guide.
John Taylor, REALTOR® | In Depth Realty | Hablo español | Equal Housing Opportunity