Alex, Home Buyer in Los Angeles County, CA

Looks good unit but HOA funds can be low

Asked by Alex, Los Angeles County, CA Tue Jan 15, 2013

This unit looks good. However there are only 4 units in the building. My concern is that HOA funds are probably low for this. Is buying such property risky in the future from resale perspective? I am pretty sure that as there are only 4 units so it would be self-govern HOA. Unit looks good but only 4 units is a concern too from getting loan from good banks. More importantly, is it recommended to buy such units where HOA reserves can be very small ? Please help me out.

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Daina Burness, Agent, Burbank, CA
Fri Feb 1, 2013
Just because there aren't many units, it doesn't mean that their funds are low. The units were built in 1993. When you are purchasing a condo, the banks will typically have an HOA cert that the HOA representative fills out. This is how the bank approves the condo HOA. Please call me if you need more information.

Daina Burness
DRE 01812102
Dilbeck Real Estate-Real Living
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