The unit may look ready for move-in while an association document is still missing from the closing file. A condominium purchase includes questions about shared property, association finances, use restrictions and insurance that do not stop at the unit’s front door.

Start those questions early. Identify the association or manager, the person collecting documents and the lender contact reviewing the project. Ask for a list tailored to this condominium and loan, rather than assuming a checklist from another building will be complete.

Confirm exactly what belongs to the unit

Fannie Mae describes condominium ownership as title to an individual unit together with an undivided interest in designated common real estate. That distinction makes the governing documents important when evaluating what you are buying. Fannie Mae condominium overview

Ask how parking, storage, decks and other spaces are documented. Is a space part of the unit, assigned for exclusive use, leased separately or available under association rules? Do not rely only on a listing description or painted number. Have your attorney explain the relevant document and confirm that the transaction papers describe the intended rights.

Read the current governing documents

Request the declaration or master deed, bylaws or trust documents, rules and amendments that apply to the property. Massachusetts’ real-estate education materials describe the master deed and related condominium documents and identify matters such as rights of first refusal. Applicability depends on the actual condominium. Massachusetts condominium education outline

Bring practical questions to the review: planned rentals, pets, renovations, business use and move-in arrangements. Ask whether a proposed use is allowed and whether approval is needed. A brief conversation with a neighbor can be helpful context, but it is not a substitute for understanding the operative documents.

Ask about dues, assessments and planned work

Request current financial information and ask about regular dues, approved or proposed special assessments, major repairs and any outstanding amounts attributed to the unit. Have the closing preparer explain which document confirms the account status and how the purchase agreement allocates an assessment between buyer and seller.

In a hypothetical sale, a roof assessment could be approved before closing but billed in installments afterward. The useful questions are which obligation exists, what the contract says about it and how the settlement documents reflect the agreement. Do not infer that the person receiving a future bill must necessarily bear the cost under your contract.

Give the lender time for its project review

Approval of your finances and review of the condominium project are separate matters. For loans intended for Fannie Mae, its current project standards require the lender to determine the project’s eligibility; the applicable review depends on project and transaction characteristics. These are program requirements, not a universal description of every lender’s product. Fannie Mae project standards

Ask the lender what is outstanding, whether the manager has responded and whether any document must be refreshed before closing. Avoid assuming a neighbor’s earlier purchase guarantees eligibility for your transaction. If the lender flags a problem, ask for the specific issue and available next steps without relying on informal approval labels.

Clarify the boundary between association and unit coverage

Ask your insurance professional to review what the association policy covers and what protection you need for your unit and belongings. For applicable Fannie Mae transactions, lenders must verify project insurance requirements even where a project has an approval status. Fannie Mae Full Review guidance

Keep this conversation separate from title insurance, which concerns covered ownership risks under its policy terms. The owner’s and lender’s policy comparison can help prevent different kinds of insurance from being bundled into one vague assurance that everything is covered.

Finish with a unit-specific handoff

Before your purchase closing, confirm the association documents and account information required for the file have arrived. Complete a final walkthrough and arrange any building access, elevator reservation or key transfer required by the association.

Keep the manager’s contact, current governing documents and insurance information in your permanent home file. If something remains unresolved, identify who is handling it and whether it affects your ability to proceed. The aim is to understand this unit and this association, not merely collect a thick packet.