What You Need to Know About Buying a Condo

Interior of Riverbend Condo

Have you been considering buying a condo but weren’t sure about the details specific to purchasing in Maine? Condominiums associations have varying rules, regulations, and fee structures that differ from buying a single-family home, but your broker can help you navigate the buying process with ease.

The Maine Condominium Act does a great job protecting buyers of condominiums in Maine. It requires the seller of a condo to provide a copy of the current Condominium Declaration, Bylaws, Rules/Regulations, and an original resale certificate. The condominium association is responsible for providing it: it includes the amount of current condo fees and when they are due, anticipated expenses, the capital reserves, and copies of the most recent balance sheet and operating budget.

Additionally, the association will need to sign off on a pending sale on all area condominiums. By Maine law, the buyer has five days from receipt to review this information. If the buyer finds any of this information unacceptable, he/she may cancel the contract. Any fees charged by the association for this are to be paid by the seller.

Buyers should also be provided with what is included with condo fees such as water, sewer, heat, electricity, exterior maintenance, and trash removal to name a few. The interior of the condo from the sheetrock in is the owner’s responsibility, including windows.

Sunday River Real Estate will provide you with all this information, as well as association minutes, so you have the inside scoop before you buy. Schedule an appointment with us today to view available condo listings in the area.

About the Author
julia young

Working in real estate has given me the opportunity to share this special place. I am honored to offer my sellers and buyers the knowledge I've gained from years of real estate experience, but more importantly, to share their passion for the ski resort and the Bethel area. Whether you are buying or selling, I will communicate, advocate, and share my expertise. I fell in love with Bethel as a Gould student athlete, but I grew up skiing the slopes of Sunday River and Mt. Abrams with my family every weekend,  and it's where I learned to ski at four years old. Skiing as a family was a choice my parents made and one of the reasons we moved to Maine.

I started my real estate career in 2000, and have built and sold several homes in the area. I currently live in Bethel with my daughter, Charlotte Lambert. She attends Gould Academy and among her many interests is a passion for ski racing. She is learning the student athlete balance and a love for the outdoors. 

We are the official real estate company for Sunday River, and in turn, we have the largest marketing base of any real estate company in the area. We cover the entire western Maine mountain region, selling homes, land, waterfront, house packages, commercial, and seasonal rentals. The ski industry and Sunday River move at a fast pace. Working with Sunday River Real Estate affords our clients the most up-to-date information about the resort. For expert knowledge of resort changes and real estate developments, please join our newsletter. I look forward to working with you!