California E&S Insurance

This is the kind of post buyers should print and bring to every condo tour because the main point is: underwrite the HOA as hard as the lender does, or you’ll get burned later. What I’d add is a simple “pre-offer triage” flow so people don’t drown in docs: 1) Have your LO pull CPM and ask specifically about SB 326/critical repairs. 2) From the seller, demand: last reserve study, A/R aging, past 12 months of board minutes, and current insurance dec page. 3) In the minutes, scan only for three words first: “assessment,” “litigation,” “balcony.” If any show up a lot, slow down. Also worth asking management how fast they can turn a lender condo questionnaire; a slow or disorganized manager is its own risk factor. I’ve seen people use tools like AppFolio and Buildium to streamline this stuff; in more technical orgs, they even wire up internal checklists and data pulls through APIs from services like Yardi and DreamFactory. Bottom line: don’t remove contingencies until you’ve treated the HOA like a borrower you might have to foreclose on someday.

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