When you buy a condo from a developer or builder, you’re automatically given a set of what are commonly referred to as “Condo Docs”. You may get the heavy weight paper version, but these days you’re more likely to get the CD-ROM version.Â Either way, most buyers don’t bother to readÂ them, but they do include some useful information for those looking to learn about their new condoÂ investment.
When you buy a resale, the owner will probably give you their copy, but when you buy from the bank, you can forget it. Even though the contract usually specifies that you’re entitled to a copy of the docs at the buyer’s expense, trust me, itÂ rarely happens. Your only remedy is that you don’t have to buy it if you don’t want to.
MostÂ buyer’s just ask their agent if they can trackÂ down a copy.Â But it often turns into a wild goose chase.Â Sometimes the COA /Â HOA will furnish a copy if you stop by the office but they will likely charge you 10c a sheet for the copying so expect to pay about $50.Â Also, they typically won’t fax them to investors who are out of state so what do you do?
Well, there are a couple of fairly new websites out thereÂ that mightÂ just save your sanity. Florida Condominium Documents is one such site. They host thousands of sets of condo docs from across the stateÂ and if they don’t have yours, they will track them down and email them to you within 48 hours. You can even order a hard copy if you like.
A digital copy via your email boxÂ will set you back justÂ $39.95 and you’ll avoid the run aroundÂ from hell with the HOA office.Â And if you use our Condo Metropolis affiliate code, you can get 5% off. Just type in “1052″ to claim your discount!