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Condo due diligence · Research methodology

Seven documents to request before buying a condo.

Research framework · October 23, 2026

A unit tour answers how a condo looks. The document package helps you understand what ownership might require. Start a file for the exact association, building and unit. Keep the date, author and scope of every record.

1. The current budget and financial statements

Separate operating expenses from reserve contributions. Ask what is included in the quoted dues, whether charges are monthly or quarterly, and whether insurance or other costs are billed separately. Compare the adopted budget with current financial statements; one does not replace the other.

2. The latest reserve study and funding plan

A Structural Integrity Reserve Study is a planning document for major building components and their funding. Ask for the complete current study, its updates and the adopted funding plan. Note the study date, buildings covered, cost assumptions and planned contributions. A study’s existence alone does not tell you whether the association’s current funding matches it.

3. Inspection reports and related notices

Request the full milestone report, its summary, any follow-up report and notices from the authority with jurisdiction. Confirm the exact building and inspection phase. A favorable finding at a particular time does not guarantee future condition. Ask a licensed professional to interpret technical findings.

4. Repair scope and completion evidence

For each recommended repair, connect the report to the scope of work, permits, inspections and relevant professional completion documentation. An estimate, signed contract or issued permit should not be described as a completed repair.

5. Assessments, loans and meeting records

Request approved assessment notices, payment schedules, loan information and recent board and owner meeting minutes. Ask about proposed projects as well as adopted charges. Confirm the unit-specific amount and any outstanding balance directly with the association or its authorized representative.

6. Insurance information

Review the association’s coverage and deductibles with an insurance professional. Obtain a unit-owner quote and ask how loss assessments, flood exposure and interior coverage apply. Avoid counting master-policy coverage twice or assuming it covers your contents and every interior component.

7. Governing documents and rental rules

Read the declaration, bylaws, current rules and relevant amendments. Verify minimum stays, approval procedures, occupancy limits, pet rules, parking and any unit-specific restrictions. Confirm separate municipal or county requirements for the parcel.

How we handle building research

LabelMeaning
Document-backed findingA stated finding tied to a named document, author, date and scope.
Needs confirmationA missing record, incomplete repair trail or question for an authorized party.
Not reviewedNo completed review. This does not mean no problems exist.

We do not generate safety ratings, guarantees or “clean building” badges from incomplete records. A future published report should identify its evidence cutoff and any unresolved questions. Individual association documents may require permission or seller-assisted access.

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