My theoretical example would be: Condo A has $300 per month dues and Condo B has $200 per month dues. In all other respects the condos are equally desirable. You discover that the reason for the higher dues is that condo A just repaved the parking lot, but did not have a reserve to pay for it.. The HOA borrowed the money and is now paying it back with 2 ears left on the loan. Condo B HOA also has repaved their parking lot, but paid for it out of reserves built up over previous years.
Because you will be paying the extra $100 per month for two years you should be able to buy the equally desirably condo A for about $2400 less than you could buy condo B.
Please visit http://www.condo.com, you can search the condos based on your preferred living area. Or you can contact me directly.
What ever you do review the documents well and make sure the condo association is well established. This might be hard for a new development but ask your agent for the names of those that sit on the board and feel free to contact them with any questions you might have.
In Minnesota, you have 10 days to cancel the contract after you have received the condo docs. Visit the MN Statues page for more info : http://www.revisor.leg.state.mn.us/bin/getpub.php?pubtype=ST