Condominium Buyer Important Information
Smart Condo Buying in Skagit & Whatcom Counties: Invest Confidently with Pacific Crest Inspections
Dreaming of your perfect condo oasis in Skagit or Whatcom Counties? Pacific Crest Inspections, your local experts, are here to empower you with a comprehensive inspection that goes beyond your individual unit. We specialize in condo inspections, ensuring you make informed decisions before investing in your dream home.
More than just an apartment inspection:
Buying a condo means becoming part of a Condominium Owners Association (COA). You’re essentially buying shares in a miniature community, co-owning common areas like pools, gyms, and landscaping. Our detailed inspection goes beyond your unit, offering valuable insights into the overall complex’s health and maintenance.
Knowledge is power:
With Pacific Crest Inspections, you’ll receive a clear and concise report outlining the condo’s condition, potential concerns, and insights into the future needs. This empowers you to:
- Negotiate with confidence: Know your bargaining power by understanding potential future costs and maintenance needs.
- Budget effectively: Plan for Condominium fees and potential special assessments.
- Invest wisely: Make a confident decision with peace of mind knowing the bigger picture of your dream condo.
Don’t settle for a blind leap: Contact Pacific Crest Inspections today and invest confidently in your Skagit or Whatcom County condo haven!
Condominium Board Members
ALERT Changes for 2019-20
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- The Washington Legislature in 2018 enacted a comprehensive set of new statutes governing Homeowners’ Associations (“HOAs”) and
condominium owners’ associations (“COAs”). This new legislation is entitled the Washington Uniform Common Interest Ownership Act (“WUCIOA”), and it became effective July 1, 2018. The new legislation is intended to clarify issues and resolve uncertainties that existed under prior law, which consisted of one set of statutes for COAs and a different set of statutes for HOAs.However, there is one major section of WUCIOA that applies to all common interest communities, including those formed before July 1, 2018 and small communities: RCW 64.90.525. This statute contains new requirements for the preparation and presentation of a community’s budget and a reserve study. Within 30 days of adopting a proposed budget, the board of the community must present it to all unit owners and schedule a meeting for the unit owners to vote to ratify the budget. The statute also lists the required elements of a budget and if applicable a reserve study. We encourage all our HOA, planned development, and condominium clients to read RCW 64.90.525 closely and check with an attorney or accountant to ensure their community is meeting its requirements..
- The Washington Legislature in 2018 enacted a comprehensive set of new statutes governing Homeowners’ Associations (“HOAs”) and
More information on reserve studies
Every well run condominium association maintains a current reserve study. This study is usually performed by architects and engineers and will cover all of the mechanical and structural common elements. This study states the age and condition of these components and what type of maintenance, repair or replacement they will need during at least the next five years. The cost of any required future work during this period will also be stated. This study should be updated at least every 5 years.
You should review the most recent reserve study; then compare it against the most recent Association budget. The budget will list the reserve funds for future projects and should have adequate funds to cover everything listed in the reserve study. If not, you may be required to pay a special assessment to cover maintenance, repair or replacement projects.
For additional information, contact: Community Association
You are also entitled to copies of the minutes from the last six months of Board meetings. These minutes may have information about major expenses the Board is considering in the future that have not yet been voted on.
A very important question to ask when buying a condominium is:
Has there has ever been a special assessment levied?
If the answer is yes, make sure this was a very special situation and not one that should have been addressed by the association in it’s normal course of duty, otherwise you may be getting into an association that does not have a sound financial plan.
Our recent article on condominium inspections
Your Neighbors
To find out more about the complex inhabitants and whether their lifestyles are compatible with your own the best thing to do is to visit the building and talk to different owners. Is the building noisy? Are there troublesome residents? What makes them troublesome? Are there children in the building? How old? How noisy? Are the common areas clean and well-maintained? Are owners satisfied with the management? Visit the building during different periods of the day to get a sense of the noise level and comings and goings of the residents. Also, walk around the neighborhood. Talk to the neighbors of your complex. What is their assessment of the buildings and its inhabitants? Noisy? Party-givers? Assess the traffic, both vehicular and pedestrian, on the street. Are there a lot of sirens? Noisy trucks? speeding cars? I used to live on a street that didn’t have too much car traffic, but was the main route for young people walking home late at night from the bars at the bottom of the hill. Needless to say it could get very noisy around one or two in the morning.
