The 10-Minute Condo Docs Triage (Denver Edition)
If you only have a coffee break before making an offer, open three pages first:
Budgets — Is the budget balanced and does it set aside at least 10% for reserves (unless a recent reserve study justifies less)? This is a quick read on financial health and future special assessments. Fannie Mae guidance steers lenders here, and so should we.
Reserve Study — Check the date and the “funding level” chart. If it’s older than ~3–5 years or shows chronic underfunding for roofs, elevators, or garages, price for risk—or ask for a seller credit to offset likely assessments.
Rental/Usage Clauses — Look for short-term rental bans, minimum lease terms, pet limits, and caps on rentals. These affect both financing options and exit strategy.
Why this matters now in Denver: the 30-yr fixed is hovering near ~6.11% (as of Feb 5), and homes are taking roughly two months to sell—meaning buyers have time to scrutinize HOA health and negotiate credits for risk uncovered in the docs.
Actionable move this week: pair your offer with (a) a doc review deadline that lands after you’ve read those three pages, and (b) a targeted seller credit to hedge any red flags (reserves, deferred maintenance, upcoming capital projects).
—Andy | Vail Peak Realty
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