Rch, Home Buyer in Houston, TX

I have never bought a condo before, and I am looking at one under construction. I am looking for ideas of

Asked by Rch, Houston, TX Tue May 5, 2009

what kind of due diligence I should conduct on the developer and the project. Any suggestions would be welcome

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I agree with Paul. The internet is a powerful tool, as we all know. The more research you do on a developer the better. That being said, getting a solid grasp of what the maintenance fees cover, and who will be managing the condo. can also affect a decision.

Although, some maintenance fees may seem high for the amenities that you recieve in a building, another way to look a it, is there will be a greater reserve in the HOA fund for maintenance or other issues that could arise in condominium ownership. Long term maintenance on an aging building can be more expensive than a new construction building, but either way you need to pay attention to where the money is being allocated with the proposed budgets that are available to prospective buyers and home owners.

Nasyim Segal, Broker Associate
Boulevard Realty http://www.SegalRE.com
1 vote Thank Flag Link Wed Mar 27, 2013
I would ask for what past projects they have completed. Also, before you purchase, the title company can let you know of any leins. Also, a genreral Google search should yield some results on the company or the principals of it. Please let me know if I can help in any way.
Web Reference: http://www.ourfirstnest.com
0 votes Thank Flag Link Wed May 6, 2009
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