Understand condo ownership before you offer.
HSM buyer resources are educational only. They are not legal, lending, tax, insurance or investment advice.
Estimate your monthly cost
Mortgage principal and interest, property taxes, condo fees and insurance in the HSM Condo Cost Calculator.
Compare condos side by side
Price per square foot, condo fees and frequency, parking, transit access and estimated monthly cost for up to three condos.
Condo document review
What to read in the bylaws, budget, reserve study, insurance certificate and meeting minutes before an offer becomes binding.
Plan a tour
Coordinate showings across multiple buildings with an HSM broker. Requests are reviewed by HSM before an agent is assigned.
Condo document review
Condominium ownership is governed by documents, not by the unit alone. Review these before an offer becomes binding, and confirm the review period that applies in your state with your own attorney.
Defines what you own, what the association owns, and how the building is governed.
What to look for: Use restrictions, pet and rental limits, alteration approvals, parking and storage rights.
Shows what the monthly fee funds and how much goes to reserves.
What to look for: Fee amount and frequency, utilities included, reserve contribution, any approved fee increase.
Estimates the cost and timing of major building repairs.
What to look for: Funding level, roof/elevator/facade/mechanical timelines, funding shortfalls.
Shows what the association's master policy covers and where your own policy starts.
What to look for: Deductible responsibility, walls-in versus bare-walls coverage, loss assessment.
The most current record of what the association is actually dealing with.
What to look for: Planned special assessments, litigation, deferred maintenance, rule changes.
The statutory disclosure package delivered in a resale.
What to look for: Delivery date, statutory review period, outstanding violations or unpaid assessments.