Key points
- The monthly fee is the visible part. The budget, reserves and insurance show whether it is sustainable.
- Rules on rentals, pets, renovations and short stays live in the condo documents, not in the listing.
- The association must issue a 6(d) certificate of unpaid charges within ten business days of a written request.
- Lenders review the association as well as the buyer. Ask early whether the building fits your loan program.
The governing documents
Massachusetts condominiums are created and governed under Chapter 183A. Each document answers a different question.
| Document | What it answers |
|---|---|
| Master deed | What is your unit and what is common area; your percentage interest; limited common areas such as parking or decks |
| Declaration of trust or bylaws | How the board is chosen, how fees and assessments are set, voting rules |
| Rules and regulations | Pets, rentals and lease terms, moves, renovations, short-term stays |
| Unit deed and plans | Exact unit boundaries and any assigned parking or storage |
Financial health
Ask for these early, ideally before the inspection window closes, so there is time to raise questions with the association.
- Current budget and the most recent year’s actual spending
- Reserve balance, and any reserve study with planned projects such as roof, masonry or elevator work
- Special assessments, past and planned
- Share of owners behind on their fees
- Pending or threatened litigation involving the association
- The management arrangement: a professional company or self-managed by owners
Insurance: the master policy and your HO-6
The association’s master policy covers the building as the documents define it. Some policies stop at the bare walls; others include fixtures inside units. Ask for the declarations page and the deductible.
Your own HO-6 policy covers what the master policy leaves to you, typically interior finishes and improvements, personal property, liability, and your share of an assessment if the master deductible is charged to owners. Compare the two policies item by item and confirm coverage and limits with your insurer. Your lender will ask for both before closing.
The 6(d) certificate
Under Chapter 183A, Section 6, the association must furnish a statement of the unit’s unpaid common charges within ten business days of a written request, for a reasonable fee, and the statement binds the association. It is usually requested shortly before closing, typically by the closing attorney, so that any balance is settled at closing rather than passed to the buyer. Read it alongside the budget: a clean certificate shows the seller is current, not that the association is.
Lender review and small buildings
Lenders often ask the association to complete a questionnaire covering owner occupancy, delinquencies, insurance and litigation, and some answers narrow the loan options available. Raise this with your lender as soon as you are serious about a building.
Many Boston-area condominiums have two to six units and are run by the owners themselves. Check that fees are actually collected, that there is a bank account in the association’s name and a separate reserve, and that decisions are recorded.
General information for condominium buyers. Your attorney should review the condominium documents for your specific unit.