Asked by KZRoberts, Arlington Heights, IL • Wed Oct 12, 2011
Got the details on a particular condo I'm considering. I've listed some of the details below. Is this considered a healthy condo reserve amount? The building seems to be in good shape. Tuck point recently done, newer roof and no up coming special assessments or major maintenance in the immediate forecast. It looks like they put 10% towards reserve funding. Seems like the board runs a tight ship & is diligent in having monthly meetings. I was just curious as to whether or not this is considered healthy.
Details: 60 condo units
Cash reserves: 100K
Total assets: 200K
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