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Buying a condo? Ask the HOA these 20 questions

Type in a few numbers from the HOA docs. Red flags show up right away. Then tick off the questions as you get answers.

From the HOA docs (optional, skip what you don't have)

%
$/mo
%
%
$
Is the HOA in a lawsuit?
Red flags
0
Low dues with low reserves usually means the HOA has been saving too little. The bill comes later as a special assessment or a big dues jump.

Green / yellow / red cutoffs are rules of thumb, except where a lender rule is named. Every lender reads the HOA a little differently.

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Email this checklist to yourself

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Or text: 408-666-2825

The 20 questions

Tap a question to see why it matters and what a red flag looks like. Tick it once you have the answer in writing.

0/20 answered

Next steps

  1. Ask the listing agent for the full HOA package the seller must give you under Civil Code §4525. You can request it with T151.
  2. Read the one-page Assessment and Reserve Funding Disclosure Summary first. Item 3 (enough money for 30 years?) and item 4 (how much short per unit) tell you most of the story.
  3. Ask your lender before you write the offer: "Is this project warrantable? FHA or VA approved?" You can check FHA yourself on the HUD condo list.
  4. Comparing this condo with a house or townhome? Put them side by side, dues included, with T05.

Many people get this wrong: "low HOA dues = good deal." Often it means the HOA isn't saving enough. When the roof or balconies come due, owners pay it as a special assessment, sometimes $10,000+ per unit.