Tips & Traps When Buying A Condo, Co-op, or Townhouse

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Date

September 21, 1999

Format

Electronic book text, 192 pages

ISBN

0071373055 / 9780071373050

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Overview


Main description

One third of all homes sold today are condos, co-ops, or townhouses. America's #1 real estate expert shows what to watch for when buying one of them. Home ownership is still the American dream, but not everyone follows tradition by buying a detached one-family house. Condos, co-ops, and townhouses are increasingly popular alternatives nationwide. These "shared ownership" options have unique pluses and minuses, as Bob Irwin reveals in Tips & Traps When Buying a Condo, Co-op, or Townhouse.

Like other books in his best-selling "Tips & Traps" series, it's packed with targeted, reader-friendly advice. If you're a prospective buyer, Bob Irwin will show you how to:

  • Decide if shared ownership is right for you
  • Read between the lines of bylaws
  • Deal with homeowners associations
  • Check out the seven warning signs of big trouble
  • Handle disclosures and inspections
  • And much more


Table of contents

What Sharing Ownership Will Mean to You. How to Evaluate a Condo, Townhouse, or Co-op. Understanding the Rules. Seven "Red Flag" Questions You Must Ask Before You Buy. Checking Out the Board. Beware the Architectural Committee! Special Tips and Traps When Buying a Condo. Special Tips and Traps When Buying a Townhouse. Special Tips and Traps When Buying a Co-Op. Should I Buy New. What About Buying a Conversion? Converting Your Condo, Townhouse, or Co-Op to a Rental. Checking the Disclosures and Having an Insepction. Where to Get Financing. How to Back Out of the Deal Gracefully. Bring Your Checkbook to the Closing. Appendix: When an Owner Defies the Board.


Author comments

Robert Irwin, one of America's leading experts in all areas of real estate, is the author of more than twenty books, including McGraw-Hill's best-selling Tips and Traps series. For more of Bob Irwin's real estate tips and traps, go to www.robertirwin.com.


Back cover copy

Hunting for your dream co-op, condo, or townhouse? Don't even think of buying one until you check with one of America's leading real estate experts!

Buying a condo, townhouse, or co-op is like marrying into a family, writes Robert Irwin in Tips & Traps When Buying a Condo, Co-op, or Townhouse. It can be a dream come true of shared amenities you could not afford on your own­­like pools, golf courses, lakes, and spas. Or you could find that you've married into a dysfunctional "family" and you're living in a nightmare of real estate politics, hidden fees, and draconian approval processes.

Now best-selling real estate writer Robert Irwin lays out the many things you need to know when buying a condo, townhouse, or co-op, much of which goes beyond buying a single-family home. Make your condo, townhouse, or co-op dreams come true with practical advice that will save you time and money:

  • Learn the 7 "red flag" questions
  • Evaluate the property's future value
  • Understand homeowners' rules
  • Check out hidden shared legal hazards
  • Rate insurance coverage and cash reserves
  • Uncover potential financial liabilities
  • Discover what dues histories mean
  • Determine who's responsible for maintenance
  • Conduct a thorough inspection and investigate disclosures





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