First-Time Condo Buyer

Welcome to Behind the Before & After | Buying & Selling - where I share, step-by-step, how I help all kinds of buyers and sellers reach their real estate goals. Whether you're downsizing, out-growing a home, or house hunting for the very first time, I know the challenges, and I know how to help you through them! Below, a First-Time Condo Buyer in Medford -

How We Met

Buyer C came to one of my January Buyer Workshops as a first-time buyer, and then followed up with me right away. She was looking to buy her first home - and she wanted to stay in Medford, in a walkable neighborhood. She was in a unique position, as she and her brothers planned to sell their family home and they agreed to advance her a portion of the sale proceeds for her down payment. She really wanted to be somewhere where she could walk to shops & restaurants, and access public transportation. She didn’t have a car, so parking was less important. 

Clockwise from upper left: the condo building, the all-important 6D form, a view of the building roof (one of them needs repair!) and plants thriving on the patio.

The Search

Once we decided to work together, we got her pre-approved with my preferred lender and then we hit the pavement. Given her budget and priorities, we thought a condo would be a good fit.  We not only looked at condo listings that were on the market, but we identified a local building in an ideal location. I pulled a list of condo owners there from public records and mailed the condo owners letters indicating we were interested in purchasing a unit in the building, if they were interested in selling. We did get some inquiries, but in the meantime, we also looked at other properties. 

We found another nearby condo building that had 2 units for sale, one on the first floor and a second on the top floor. While the top-floor unit was more updated, Buyer C preferred the first-floor unit, as it had a private, screened patio for enjoying lovely spring and summer nights. 

The Challenges

So far, so good. We had found a condo with a great location, in her budget. But condos come with condo associations. 

In this case, we had actually met the Seller in person during one of the showings; this is very unusual. But she was kind enough to sit and answer any questions my client had and it was great to get questions answered from the horse's mouth, as they say. The owner had lived there over 20 years and at one point had been one of the condominium association trustees. 

However, when I followed up with the current condo association, I had a challenging time getting information as it pertained to the age of systems and improvements, specifically the common roof. The Seller, during our meeting, told us that the association planned to replace the roof, and that money had been put aside. After a little research, I ultimately found out this was not true at all. Instead, we learned that Buyer C would soon be facing a significant assessment for the roof, should she continue with her purchase. 

Ultimately, I was able to negotiate a $5,000 closing cost credit to cover any future roof assessment.

Throughout this negotiation, the Seller’s realtor wasn’t very forthcoming and kept referring me to the seller’s real estate attorney. To find out the full story, I had to ask some hard questions, and work closely with Buyer C, her lender and our real estate attorney. 

Then, right before closing, I found out that the Seller actually still owed the condo association close to $10,000 in back condo fees. The Seller was fighting the condo association, and trying to get out of paying it. In turn, the condo association would not release the 6D document we needed for our closing. The 6D is one of the most important documents in a condominium purchase; it states that the unit being sold does not owe any back condo fees to the association.  Essentially, it confirms that the buyer is purchasing the condo in good standing. Ultimately, the Seller understood that she had no choice but to pay it, and the condo association released the document Buyer C needed to get to the closing table.

The Outcome 

A few years later, Buyer C is happy in her condo, her plants are thriving on the patio, and her relationship with her neighbors and the condo association is strong.

"I attended Jen's "Home Ownership 101" presentation at Medford Library and instantly felt comfortable with her and her team. I then met with her to see if buying a condo in Medford as a single woman was even possible. She listened to what I was looking for, and was always available for my questions and concerns. When the seller was difficult, Jen fought for me. Jen made my goal of owning a condo in my hometown a reality. Forever grateful.”

For this and all my online reviews, please see my Google Business page. For more case studies of how I help buyers and sellers, explore my whole series Behind the Before & After | Buying & Selling.