Have you guys gone through the process of purchasing the condo? All good advice from previous answers but I think you can still negotiate down the price. The prices in Southborough have really TUMBLED and condo converstions here in our area have shown mixed results on the resale end. Is it fair to assume that you may "outgrow" your condo in a few years since you did say family. It is my opinion that Southborough has one of the best school systems so it may be safer on the re-sale side. Most 1st time home buyers do not stay at their first property for more than 3 years or so...especially when they buy a condo. Good luck and continue to shop around for comparrison.
Weichert Realtors - Ernie Houde Associates
It sounds like you have agreed with the seller on the price and now want to know about terms. You could contact a real estate attorney and have them draft a formal agreement between you and the seller.
You might want to share the cost of the attorney or rather secure his/her services soley.
A home inspection is a means to answer questions about the structure. I wouldn't reccommend not getting a home inspection but I would recommend asking yourself what questions about the structure you would like answered. The right to have a home inspection is very good tool for getting those answers. Also some mortgage agreements require an inspection of some sort...pest, structural, roof...
As a Certified Buyer Representative I provide a detailed outline of the purchasing process.
Yes, you absolutely should have an inspection to make sure the building is in good shape.
I also highly recommend you hire a real estate agent (exclusive buyers agent) to make sure that you are buying the place for proper market value.
If you really love the place than definitely consider doing everything that other buyers will do including home inspections and hiring a realtor and a lawyer. Also pay close attention to the condo docs. especially the parts that address condo fees, financing of repairs, what is common property and what is covered under condo fee, how will issues and repairs be addressed and resolved.
At some point some sort of issues do arise when HOA is involved, whether it is a big complex or a recent two family conversion. The tricky part : you and the people next door in the association really have to get along very well.
Best of luck