"What is the monthly condo fee, and what exactly does it cover? In the Seaport, these fees often include 24/7 concierge, fitness centers, and snow removal, but may exclude in-unit utilities or parking. Are there any planned special assessments? Ask if the association is preparing for large, one-time charges for major repairs like roofs or elevators. What is the current balance of the reserve fund? Healthy reserves are critical for avoiding future assessments and ensuring long-term maintenance."
"Is the building currently involved in any litigation? Legal disputes can prevent you from securing a mortgage and may indicate deeper management or construction issues. Is parking deeded, assigned, or rented? In this dense district, deeded parking typically holds the most long-term value. What is the owner-occupancy rate? High investor/rental ratios (often above 50%) can make it difficult to qualify for certain loans, like FHA mortgages. What are the pet policies? Many Seaport buildings have specific limits on the number, breed, or weight of pets."
Ask for the monthly condo fee amount and an itemized list of what it covers, noting common Seaport inclusions such as 24/7 concierge, fitness centers, and snow removal, and common exclusions like in-unit utilities or parking. Confirm whether any special assessments are planned and whether the association's reserve fund balance is adequate to avoid future assessments. Determine if the building faces litigation that could affect mortgage financing. Verify parking ownership type, owner-occupancy rate, pet and rental restrictions, flood risk mitigation, on-site management, noise insulation, and package handling procedures. Review the last 12-24 months of board meeting minutes for recurring issues.
Read at Boston Condos For Sale Ford Realty
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