In general the Real Estate market is pretty unstable to date. Price reductions are not uncommon. Majority of sellers start with a fairly high asking price knowing that they will have to negotiate when an offer comes in.

If you are serious about a unit and are thinking about putting an offer in your real estate agent can always work for you to get any information pertaining to the unit of interest & the association in general.

Some important questions you should have your real estate agent get answered for you are:
1.) Are there any back condo fee payments. Get the total & find out if you will be responsible.

2.) How much will the title 5 certificate run?

3.) Is the condo Association planning any updates? Is there currently money in the account to cover these?

4.) Are there are any special assessments?

5.) Has the condo association paid the master insurance policy? Are they up to date on taxes? Can you provide an up to date copy?

6.) Are there any past water bills owed?

Sincerely,
Lisa Brown
Molisse Realty Group, Hanover MA

I have the same questions as you. I just think it is the market at the moment. I'm am very curious as to the difference in assessments between Ocean Place and Horizons condo complexes. I haven't asked any of the realtors due to the fact that I don't want to waste their time as my house has not yet sold.

Hi Dsmith, I agree with Chris. This market is very slow. Without digging too much, I think the issue is more of a market issue than an issue with the condominium complex itself. Good luck, Jon

Don't be too scared off by the days on market and price reductions. On much of the South Shore because there is so much inventory and few buyers, the market time is still longer than normal. As a result there are more price breaks. Having said that, you still must do your "due diligence" when you decide to pursue a condo. Your buyer's agent should request the usual condo docs (rules & regs, master deed, etc), but you should also review the association meeting minutes for at least the last six months. The meeting minutes will note any upcoming issues that have been discussed. If you're curious about condo sales acitivty in Marshfield, check the link to my blog where I have posted condo sales activity throught September. If you'd like a more comprehensive report for Marshfield or surrounding towns, just shoot me an email and I'll be happy to prepare one.

Are you working with an agent? You can ask the listing agent for information regarding the HOA association. Or have your realtor call and ask a bunch questions and poke around. Good Luck!