Product Description

Living in a community association is the least understood form of residential ownership. Three examples: Jane T. moved into her condominium and got hit with an unexpected $9,000 special assessment three months later! Tony J. learned he could not operate his business from his condominium after signing the contract. Susan B. had to get rid of her cherished dog simply because he was too big!

Buying into a condominium or homeowners association legally binds the owner to follow pages of community rules as well as obligating them to support the community association financially.

Condo Buying and Ownership Made Simple: Tips to Save Time and Money clearly informs the reader how to live happily in these communities and avoid the many pitfalls that catch the uninformed.

Featured in this book are "Kay's Exclusive Condo Buyers Checklists." Worth the price of the book by themselves, the checklists provide the buyer with a simple and effective method to untangle confusing community association documents. The checklists also contain valuable information for the owners who may not be familiar with his or her association's documents and rules.

This book explodes some of the myths like: You can tell a condo is well managed if the maintenance fee is low. I don't need to read my association's governing documents. They are only for the board of directors.

My condominium is brand new, so I don't have to worry about any special assessments for a long time. It also warns buyers that they may not be permitted to:

Run a business in their unit. Have a garage sale. Put up a 'For Sale' sign.

Have a pet. Rent their unit. Display a flag. Park a company car overnight. Install a satellite dish for TV.

With hundreds of tips, pointers, and answers to questions, this non-technical book is well organized and a very friendly read. Also, included are a glossary of community association terms and a thorough index.

Some of the subjects covered are:

The difference between a Condominium and a Homeowners Association.

Why live in a condo? Should I purchase a new unit instead of a resale?

What laws govern a condo?

Who takes care of the management, maintenance, repairs, and replacements?

What are some of the owner's restrictions?

Why have association meetings? Association finances are explained.

Who makes the rules of the association?

What is the purpose of the replacement (reserve) fund?

What is the operating budget?

Who can help me make the best decision?

What documents should be reviewed before you purchase?

What are the association's and owners' responsibilities and rights?

Product Details

• Amazon Sales Rank: #161722 in Books
• Published on: 2008-01-02
• Original language: English
• Number of items: 1
• Binding: Paperback
• 220 pages

Review
It s a tremendous book...I can t say enough about it. Kay is brilliant. Had I known about this book before I put in an offer, I would have been educated about my future home. Now that I m selling my condo, I m recommending Condo Buying and Ownership Made Simple to prospective buyers. Spending $10 or $15 could save you thousands of dollars and a lot of disappointment or consternation later. --Andrea Reynolds, B.S. Home Economics and Author

Kay Senay is a consumer advocate and syndicated columnist. Senay writes with experience. Most people who purchase a condominium have no idea what association living really means. The simple truth is that the buyer isn t just purchasing a home, but a piece of a business. Condo Buying & Ownership Made Simple is thorough, readable and well-organized. The book contains a detailed index and checklists for potential buyers. Having put in the time behind the desk and on boards, Kay has literally left no stone unturned. While association living may not be for everyone, anyone considering the purchase of a condominium should inform themselves with this book. --5 Stars (Highest Rating) ForeWord CLARION Reviews

This is the ultimate how to guide for condo and community association real estate buyers. Condo Buying and Ownership Made Simple is an easy to read book with great checklists and information that assists from the decision process to gaining every advantage as an owner. This is a must have for every investor s and agent s library. If I was a real estate broker, I would stock this book to give to buyers to help make my job easier. --Daniel Merrick, Ph.D., Instructions To Money Radio

About the Author
Kay Senay is a consumer advocate and syndicated columnist kay@condo-condominium.com. The successful community association management company that she founded is now in its second generation. She is an expert resource for buyers and for those living in condominiums. With over seventeen years of hands-on experience, Kay is familiar with all aspects of community association living. She is a speaker at real estate conferences, and an advisor to condominium association boards of directors. Community Associations Institute (CAI), the industry's recognized premier educational institution, certified Kay as an Association Management Specialist and a Certified Manager of Community Associations.

Customer Reviews

A must for any condo owner!
Being in the mortgage industry for over 25 years, and having purchased several condos myself, I can only say one thing - I wish I had this book years ago!

Kay Senay has done a masterful job of putting together all the details that go into buying a condo - many of which people overlook all the time. Forms, calculations, and extensive checklists make this a must have for any buyer, real estate agent or mortgage lender who deals with these properties.

The FAQ section in Chapter 5 ask all those questions most homebuyers are dying to know - or NEED to know to protect their investment, especially in this type of market. This book will save any condo owner or perspective owner a lot of cash - I just wish I had written it!

- Chip Cummings, Author "Mortgage Myths", "Foreclosure Myths" and "Cashing In on Pre-foreclosures and Short Sales"

Best Tool For This Subject on the market!
"This is the ultimate how to guide for condo and community association real estate buyers. `Condo Buying & Ownership Made Simple' is an easy to read book with great check lists and information that assists from the decision process to gaining every advantage as an owner. This is a must have for every investors and agents library. If I was a real estate broker, I would stock this book to give to buyers to help make my job easier." 5 stars! Hear radio interview at Instructions To Money. Net

This book is a must for anyone thinking about purchasing a condo.
If you are thinking about buying a condo, make certain you read Kay's book before you sign the contract! Don't make the mistake we made and feel that reviewing the Condo Association's Declarations before finalizing the sale is sufficient. The average person is completely oblivious about what they need to look for. My husband and I bought a condo 9 years ago and our life has been full of surprises, some good and some not so great.

Kay's book has been a valuable resource to me since I became involved in our Condo Association's board. I only wish it had been published prior to our move!

There's a lot more to living in a condo then meets the eye and you owe it to yourself to make an educated decision. I guarantee that this book will provide you with all the questions you need to have answered.