Home Buying Process
Your Roadmap to a Confident Home Purchase
Whether you’re buying for the first time or the fifth, having a clear understanding of the home buying process makes all the difference.
My comprehensive Home Buyer Overview walks you through every stage—from financing and offer strategy to inspections, closing, and beyond—so you can navigate your purchase with clarity, confidence, and fewer surprises.
If you’re buying a property governed by an HOA or condo association, reviewing the resale documents is one of the most important due diligence steps you’ll take. In this video, Adam explains what to look for in those massive document packets and how to spot financial and legal red flags before it’s too late. This is essential viewing for any buyer under contract in a planned community, condo, or co-op.
What You’ll Learn in This Video:
What resale documents are and why they matter for HOA/condo buyers
Key red flags to watch for—like low reserves, high delinquency rates, or pending litigation
How special assessments can affect your budget and financing
The typical timeframe you have to review these documents (varies by state)
Why reading the fine print now can save you major headaches later
What’s on the market now? Customize your home search.
Ready to start the process? Schedule a brief conversation.
Want to learn about association red flags? Learn about several here.
Adam Tabaka (00:00):
Alright, so if you’re purchasing property in a community or a building that is subject to an HOA or a condominium association, you’re going to receive resale documents at some point prior to settlement. You’ll have an opportunity to review the documents and look for any major red flags that might give you second thoughts about purchasing the property that you’re currently under contract for. How long you’ll have to review the documents varies by jurisdiction, and there’s a PDF linked below with a breakdown.
(00:28):
Now, reviewing the resale documents is not a fun process. Generally these packets are several hundred pages and there’s a lot of minutiae in there, but this is a critically important part of your due diligence in the home buying process.
(00:43):
What are a few of the red flags that you might want to keep an eye out for as you’re reviewing the documents? One might be low reserve funds. Now, generally a good benchmark is going to be 10%, maybe more for older condo buildings. High delinquency rates can be another red flag, and if the delinquency rate is at or above 15%, it could potentially cause a problem with your financing. Special assessments, whether planned or in place, are another potential red flag indicating that the association didn’t properly budget for their expenses. And pending litigation, especially lawsuits involving structural issues with a condo building can affect both your financing and your ability to resell the property down the road.
(01:28):
For information on document review timelines, or for other red flags, check out the PDF linked below. Ready to get the process started? Give me a call or schedule time with me down below. Until next time, take it easy.
Your Roadmap to a Confident Home Purchase
Whether you’re buying for the first time or the fifth, having a clear understanding of the home buying process makes all the difference.
My comprehensive Home Buyer Overview walks you through every stage—from financing and offer strategy to inspections, closing, and beyond—so you can navigate your purchase with clarity, confidence, and fewer surprises.