Massachusetts Condo Buying Checklist
Use this Massachusetts condominium buying checklist to review budgets, reserves, assessments, insurance, litigation, rules, financing, and unit condition.
Documents to obtain and review
Massachusetts does not generally supervise condominium associations; their operation is governed by recorded documents and Chapter 183A. Have a Massachusetts attorney interpret the documents and identify conflicts or restrictions.
- Master deed and all amendments
- Declaration of trust or bylaws
- Rules and regulations
- Current budget and recent financial statements
- Meeting minutes
- Insurance summary
- Reserve study, if available
- Pending litigation, claims, assessments, and major projects
Financial questions
Low condominium fees are not automatically a benefit. They may indicate deferred maintenance or inadequate reserves. Review what the fee includes, delinquency levels, reserve funding, expected capital projects, and the history of special assessments.
Financing and insurance
Lenders evaluate both the borrower and the condominium project. Owner-occupancy, insurance, litigation, commercial space, investor concentration, and deferred maintenance can affect approval. Ask the lender to review the project early, especially in a small or self-managed association.
- Confirm master-policy coverage and deductibles
- Obtain an HO-6 unit policy quote
- Ask who pays a master-policy deductible
- Confirm parking and storage rights in the deed
- Review rental, pet, renovation, and use restrictions
Physical inspection
Inspect the unit and accessible common areas. Look beyond finishes to windows, roof, masonry, balconies, drainage, elevators, mechanical systems, and signs of water intrusion. Ask whether planned work is funded.