Buying a condo is different from buying a single family home.

The Minutes: Take a look at the minutes of association meetings. See what current owners are griping about. The complex could be having difficulties if the complaints are about plumbing or landscaping. The minutes also detail what projects are under way.

The Management: Is the condo managed by professionals. In an effort to save some association attempt management, while many are competent other lack practical knowledge of exactly what they are supposed to be doing. Professional managers do this for a living.

Bylaws and Special Restrictions: What restriction and bylaws govern the complex. Be sure to get a copy of the bylaws to see if you'd be comfortable living there. Be sure to check for Grandfathers Clauses. There may be restriction placed on new owners.

Owner Occupied: What percentage of the building is owner occupied. Higher percentages of owner living in complex is preferred. The higher percentage the more marketable for resale.

Financial Condition: How much is kept in reserves. Reserve standards $2000 to $3000 per unite or 25% of the annual gross income of the association. The age of the complex is a key factor here. More reserves my be required as the building ages.

What's Covered: What does the fees cover - common area, trash, snow removal, pool, gym.....

Legal Problems: Does the Association have any legal problem. Contact a good real estate attorney to go over the bylaws and to check court records to see if any owners have filed suits against the association..

The Special assessment History. What assessment have there been in the last five years and how much was each owner responsible for.

Delinquency Rate: If owner aren't paying association dues on time, then the funds might be under funded and or there my be some discontent.

Renter Friendly: Is the complex renter friendly. What are the rental policies.