In the District of Columbia, like many jurisdictions, condo buyers get a little extra time after their offer is accepted to look at the basic documents that cover the money stuff and the basic ground rules set down by the owners’ association they are buying into.

These papers cover

• The budget
• The rules and regulations
• The by-laws governing the association
• Information about pending litigation, fees and pending special assessments
• While not required, I recommend that buyers also request the minutes of the last several board meetings and check out the building’s web site (if they have one).

Sound like a big snore? It is.

Still, it’s really important to go over these papers before you are obligated to buy the place.

Will your hyper-active Labradoodle puppy be welcome in the complex? Can you run a small business out of your unit? Do they require carpet on top of the pretty hardwood floors? Can you install a washer/dryer in your unit? Is it OK to barbecue on the balcony? These and other questions about the ground rules of the building are found, yes in the rules and regulations section.

Will the fees go up? The answer to this question is always a resounding “YES!” Still, you want an idea of the financial health of the complex. Are any big fix-up projects on the horizon, and is there money in a reserve fund to pay for them? This information should be in the budget, but you’re more likely to get the full scoop from the recent owners’ association meeting minutes.

Is anyone suing the building, or is the building involved in litigation, either with the builder/developer or deadbeat owners who aren’t paying their fees? Some buildings have the dispute resolution thing down and have learned to work out problems without lawyers. Others resort to litigation at the drop of a hat – an expensive way to handle most day-to-day problems. In DC, the resale “statement” will answer this question.

Any condo project will have issues.

• At some point, fees will increase.
• From time to time, there will be special assessments.
• There will be problems with some owners who do not respect the rules everyone agrees to live by.

And it’s not always possible to predict what living there will be like. Still, a reasonable amount of due diligence is a really good idea.

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