Brick X Brick Ep 17: Cracking the Condo Code with Carissa Notland

In the latest episode of "Brick x Brick," host Roxann Klepper sits down with Carissa Notland, founder of Condolyzers, to demystify the complexities of condominium ownership. Condolyzers is a company that specializes in condominium analysis, aiming to simplify the process for potential buyers. Carissa emphasizes the importance of understanding the financial health of a condo association before making a purchase. She advises prospective buyers to review documents such as the association's budget, reserve fund, and meeting minutes to gain insight into potential future expenses and the overall management of the property.The discussion also touches on the significance of reserve funds, which are essential for covering major repairs and unexpected costs. A well-funded reserve indicates a proactive association, reducing the likelihood of special assessments that could financially burden owners.Carissa shares a personal anecdote about a client who purchased a condo without thoroughly reviewing the association's documents, only to face a substantial special assessment shortly after moving in. This story underscores the necessity of due diligence in the condo-buying process.Roxann and Carissa conclude by highlighting the value of consulting professionals, such as real estate agents and attorneys, who specialize in condominiums. These experts can provide invaluable guidance, ensuring that buyers make informed decisions and avoid potential pitfalls.For a more in-depth understanding and additional insights, watch the full episode of "Brick x Brick" featuring Carissa Notland.