Look Out For Rising Fees From Association

Q. As a potential first-time condominium buyer, how do I protectmyself from an association with runaway assessments?

A. The homeowners association board has the right to increaseassessments and impose special assessments. Potential condominiumpurchasers should obtain information in advance to best protectthemselves against unexpected, unusually high assessment increases orspecial fees.

Get the answers to these questions before buying: How much have homeowners' fees risen in the immediate past? Byobtaining a history of the past five years from the seller ormanaging agent, a potential buyer will have an idea of what futureincreases might be. How often have …