It is a very good idea to look at the co-op or condo board meeting minutes as soon as you are thinking you maybe interested in a property. That way, you can find out what the association is looking at in the way of repairs which could mean some very expensive special assessments. You can also see how the reserves look and how well run the association is run.
For you Listing Agents, I would suggest you get the bi-laws, and board minutes scanned so that you can send them out as soon as someone shows an interest in the property. This can save everyone a great deal of time.
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Leslie loves her job--the referrals she receives reflects the great job she does! She facilitates the purchase and sale of residential property in the north Seattle area plus Queen Anne and Magnolia.
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Leslie, as you know I always recommend that the buyer take a look at the Association minutes----part of every Condo Inspection Report. I think this is a great idea for the Listing Agent to have these things all ready for the buyer. Like you said this can save a lot of time. Sometimes I feel like they want to keep this info "quiet":)
Hi Charlie,
I think agents should put it in their procedures as one of the first things to do. You are really racking up those points--Steve look out!
Hi Leslie,
what do you do when a HOA won't give out the meeting minutes? They aren't required by law to do so. I haven't yet run across this issue other than when a HOA doesn't have regular meetings so there are few, if any, minutes to review. I do make it a matter of course to ask for them, but I have read by some attorneys that they aren't required to give them since they are private records and not a state requirement.
Cheers,
Reba Haas
Team Reba of RE/MAX Metro Realty