Buying a condo in San Mateo County is a lot different than buying a single family home in San Mateo County. San Mateo County home buyers need to be aware of these differences so they can determine whether or not buying a condo in San Mateo County is right for them. This webinar will help home buyers make an informed decision whether or not to consider a condominium in their home buying strategy.

1. What to Know Before Buying a Condo
Thanks for joining tonight’s webinar. We will begin
shortly. To download the slides, please visit
http://budurl.com/WebinarHandout
Tonight’s Speaker
Raymond Stoklosa
Managing Broker and Co-Owner
The RayChel Realty Group
Phone: (650) 655-2500
www.LivingWellinSanMateo.com
The RayChel Realty Group
Purpose and Goals of Tonight’s Webinar
Purpose
• Empower and Educate Home Buyers
Goals
• Share with you the things we’ve
learned over 30 years about buying
a condominium
• Leave you more aware and informed
about buying a condominium
The RayChel Realty Group
Questions During the Webinar
You may type questions in at any time during the
presentation – Question box on your screen
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2. Questions During the Webinar
• Condominium experts are available to answer
questions throughout the presentation
• This is an interactive learning environment.
You will get the most value from this program
by having your specific questions answered.
• The only dumb question is the one you don’t
ask
The RayChel Realty Group
What to Know Before Buying
a Condo in San Mateo County
Presented by
Raymond Stoklosa
Managing Broker and Co-Owner
The RayChel Realty Group
Phone: (650) 655-2500
www.LivingWellinSanMateo.com
The RayChel Realty Group
www.RayChelRealtyGroup.com
Topics Covered
• What Is a Condo?
• What Do They Look Like?
• Who Should Consider One?
• What You Need to Know Before Buying One
• How to Protect Yourself
The RayChel Realty Group
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3. Is the Complex A True Condominium?
Condominium
• Legal Term
• Type of Common Interest Subdivision
• Created by Declaration & By-Laws
• Special Consumer Protection Laws
Typical SFH disclosures required
Plus 27+ additional disclosures
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What is a Condo?
Ownership Components
• Unit Itself – A Box of Air – Where buyers will live
• Proportionate Interest in Common Property
• Set of Easements
Exclusive Use
Non-Exclusive Use
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Townhouse
• Architectural Term
• Not Ownership Term
• Two Story Dwelling Unit
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4. What Do They Look Like?
Single Family Homes
1242 Hoover Street, Menlo Park
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What Do They Look Like?
Apartment Buildings
Park Road, Burlingame
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What Do They Look Like?
Townhomes
Ownership Type: Condominium Ownership Type: PUD
Park Bayshore Townhomes Clearview
San Mateo San Mateo
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5. What Do They Look Like?
Condominiums
Ownership Type: Condominium Ownership Type: Condominium
601 Laurel Stonegate
San Mateo Madison Ave
San Mateo
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Who Are They Great For?
• Seniors Looking to Downsize
Tired of Hassles
No Major Maintenance
No Outdoor Upkeep or Gardening
• Young People or Couples
Without Children
Career Advancement #1 Priority
Heavy Travel Schedule
Interests Don’t Include Upkeep of
a Home
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Buying a Lifestyle
• Shared Living
• Intimate Lifestyle
• Ownership by Consensus
• Rules and Regulations
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6. Is A Condominium Right for You?
Key Questions You Must Answer…
• Do You Want the Community?
• Does the Community Function
Well?
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Financial Issues
• Is there litigation pending or anticipated?
• What are the monthly dues?
• What do the monthly dues cover?
• Are there current or anticipated special
assessments?
• Are the reserves adequate for the age and
condition?
• Are unit owner’s current on fees and assessments?
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Occupancy Issues
• Are there occupancy, rental or pet restrictions?
• How many units are owner occupied?
• What is the sale history of the unit and complex?
• How are parking spaces and storage facilities
allocated?
• Are any units in foreclosure?
• What is the policy for handling delinquency?
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7. Board Issues
• Is complex self-managed or professionally
managed?
• What are the foreseeable plans for
maintenance and rehab?
• Is Board approval required for resale?
• How much liability insurance coverage
• Deductible?
The RayChel Realty Group
The Best Experience Possible
• Buying a Condominium is a…
Complex
Complicated
Legal Mine Field
• Utilize Professional Expertise
The RayChel Realty Group
Professionals Help You Succeed
• Work with Condominium Expert
Transaction Expertise
Market Knowledge
• Expert – How can you tell?
Informs and Educates
• Your Advocate
Puts Your Interests First
Counsels, Advises & Negotiates on Your Behalf
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8. How to Protect Yourself
Stop, Look, Listen and Look Again!
• Include Contract Contingencies
• Conduct Investigation
• Review Disclosures
• Evaluate HOA Documentation
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All About Getting Your Money’s Worth
• For the Right Person
• At the Right Time
• The Right Condominium Unit…
Can Be Right For You!
The RayChel Realty Group
www.LivingWellinSanMateo.com
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9. Upcoming Class in San Mateo
Guide To Buying Condos & Townhomes
Tuesday - November 3rd 7pm – 9pm
For Reservations Visit:
http://budurl.com/CondoClass
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Our Next Webinar
Common Home Buying Mistakes
Even Smart People Make
Saturday, November 7th 10am
To Register Visit:
http://budurl.com/HomeBuyingMistakes
The RayChel Realty Group
Free Conversation
Raymond Stoklosa Chela Stoklosa Rebecca Williamson
Managing Broker and Owner Agent and Owner Agent
Phone: (650) 655-2500
info@RayChelRealtyGroup.com
LivingWellinSanMateo.com
YouTube.com/LivingWellinSanMateo
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