You order the condo documents once the contract is executed, because that is when the review clock starts and that is how everyone does it. Every fact that kills a condo deal is knowable before the offer, and the document that predicts the assessment nobody has voted on yet is the one most often skipped.
The Close is writing about a squeeze: condo prices softening in some markets while the cost of owning one climbs. A May 2026 survey from the Foundation for Community Association Research found "54% of responding condominium communities were increasing regular assessments to meet reserve funding expectations, while 14% were using special assessments."
Then it names exactly what to ask for. "Agents should request the reserve study, recent financial statements, assessment history, master insurance details, and any board discussion of upcoming repairs." That is five documents:
the reserve study
recent financial statements
assessment history
master insurance details
any board discussion of upcoming repairs
One more belongs beside them: "The lender’s condo questionnaire can reveal whether a unit is warrantable, which can shape the buyer pool and resale outlook." And here is the failure the whole list prevents: "A buyer may qualify based on the purchase price, then reconsider when building documents show a pending assessment, weak reserves, or repeated fee increases."
“Agents should request the reserve study, recent financial statements, assessment history, master insurance details, and any board discussion of upcoming repairs.”
Warrantability is the silent one. If a building cannot satisfy the lender on reserves, insurance, litigation, or owner occupancy, the buyer pool shrinks to cash and portfolio lenders — which changes this deal and every resale after it. None of that is a surprise on the day it shows up. It was in the documents the whole time.
The same list works in reverse on a listing. A building with a current reserve study, stable dues, and a clean assessment history is a selling point, and almost no listing agent says so out loud. The Close's framing for the buyer is the number that actually matters — the full monthly obligation, mortgage and dues and insurance and any likely assessment, rather than the price.