For many, purchasing a home is one of the biggest investments of their life—
but it can also be risky if the Due Diligence isn’t done
(PRWEB) October 09, 2012
Introducing Condo & HOA Smart, a new and first-of-a-kind service providing Condo and HOA inspections and due diligence, nationwide.
It is important that home buyers know exactly what they’re getting, beyond the location and number of bedrooms a property offers. This is especially important for the many homes located in communities governed by Condominium and Homeowner’s Associations (HOAs).
Condo & HOA Smart (Condo-Smart.com) offers a new and first-of-a-kind service that performs due-diligence on Condo and Homeowner Associations to determine the financial health of the association, along with other critical information. This information is important for home buyers to have before they close on a new home. It helps them determine any future risks and also provides them with the information they need to assist with their decision.
Real estate broker, Association Management Specialist and CPA, Gail Pizetoski founded Condo & HOA Smart after 25 years experience working with Condos and HOAs as an auditor, tax preparer, association manager, trainer and industry consultant. Now, her in-depth industry experience is benefitting homeowners.
Pizetoski says that real estate agents and prospective home buyers have the task of researching a property’s association early on in the buying process—research that can be time consuming and daunting to most buyers who lack the time and experience to do the proper due diligence.
That’s where Condo & HOA Smart steps in
“All HOA-governed communities are subject to rules and regulations, but many people buy into a community and don’t know what they are getting into,” Pizetoski said. “What types and sizes of pets are allowed? Are there rental restrictions? Can they smoke in their condo?, Is there enough parking? Are any major repairs planned?, Is a special assessment planned?, Does the association have a reserve fund?, If so, is it adequate?”
Condo & HOA Smart answers those questions and more through their due diligence process that includes inspections and analysis of an HOAs governing documents, rules and regulations, cash flow, financial statements, reserves and more. This information is used to determine the financial health and any livability issues of an HOA for the benefit of real estate agents and home buyers.
“Having audited many HOAs and founded and managed an association management company for ten years, we know community associations inside and out,” Pizetoski said. “We have extensive experience and a strong background in this industry and are thoroughly familiar with reading the governing documents, analyzing the financial statements and we know the right questions to ask. The inspection report that we provide is just as important as your property inspection, if not more.”
To get started, real estate agents and home buyers can download a Free Inspection-Due Diligence Checklist from Condo-Smart.com. The checklist provides a general guide for the HOA inspection process and tips on areas that will need to be researched and questioned.
To order an Inspection and Due Diligence Report, visit http://www.Condo-Smart.com and complete the order online. Once all the requested documents (usually provided by the seller/homeowner) are given to Condo & HOA Smart, they begin the inspection process and complete it within 72 hours. A professional, detailed report is then emailed to the buyer or realtor. Rush service is also available. For more information visit Condo & HOA Smart’s website athttp://www.Condo-Smart.com and also follow them on LinkedIn and Twitter.
About Condo & HOA Smart:
Condo & HOA Smart was founded by Gail Pizetoski, a CPA, Association Management Specialist and real estate broker with more than 25 years of experience in the community association industry, to provide important information in order to reduce risk and surprises, for potential home buyers in condominium and homeowners associations.
Gail gained broad experience by working with over 300 associations, thousands of homeowners, individual tax clients, and small businesses. Her industry experience includes performing Condominium & Homeowner Association audits, reviews, compilations, preparing their tax returns, managing community associations, daily/monthly accounting, consulting for management companies and board member training.