High owner-occupancy (rather than renters) usually indicates better maintained property and makes financing easier.
This document provides a snapshot of the unit's legal and financial standing. 5. Make an Offer and Negotiate
Look for a healthy reserve fund (a good rule of thumb is at least 25% of gross income in reserve) to avoid future special assessments.
Contact a lender for pre-approval, which strengthens your offer and clarifies your price range.
Review meeting minutes for the past 1–2 years to identify upcoming repairs (roof, windows), complaints, or potential lawsuits.
