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How to Buy a Condominium

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From Quick Guide: Condominium Buyer's Basics

Summary: Buying a condominium should be done only after a real estate agent has analyzed the price. Buy a condominium using the real estate tips in this free video.

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By Richard Blake
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Richard Blake is a licensed real estate agent that has closed more than 20 times the number of transactions per year than that of the average realtor in Pinellas county, Florida for...read more

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Video Transcript

"If your version of the American dream doesn't include mowing your lawn, then you want to consider purchasing a condominium. I'm Richard Blake in Tampa, Florida. And I'm here to explain to you how to purchase a condominium. First thing that you want to do is contact your local real estate agent and ask them for a list of properties of what's available on the market today. Once you have that list of properties and you've consolidated to a certain community, you're going to ask the real estate agent to run a market analysis on that community to find out what the most recent sales prices have been. This is going to give you an idea of what the average sales price is in that neighborhood so you're sure not to overpay for this property. Once you've submitted your offer and the offer's been accepted, generally you're going to have a due diligence period of anywhere from one to two weeks. At this time, this is where you're going to ask for the condominium documents and any association documents that, that they have there. The documents are going to include all the rules and regulations and you're going to want to look through those really good to make sure that none of the rules or regulations will go against anything that you desire in this specific property. Again, your local real estate agent will be able to assist you with all this paperwork and entire process. I'm Richard Blake in Tampa, Florida. Hope that this helps you a little bit on the first steps of how to buy a condominium. You guys have a great day."

eHow Article: How to Buy a Condominium

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