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The basics of buying a condo

Q: I'm seriously considering moving to Seattle and buying a condominium, but I don't want to go into it blindly. What do I need to know, and where can I get information to make an informed decision?

A: You're wise to do your homework, because there's a lot to consider on the way to a successful condo purchase.

Seattle attorney James Strichartz, of the law firm of Strichartz Morgenstern, has written at length on this matter. For a start, he says, as a prospective condo owner, you must "determine whether or not your personality type is well-suited to community association living. That means being able to give up a certain amount of control over day-to-day decisions and also being willing to get involved in the decision-making process."

Equally important, he says, is researching whether the condo development you're interested in is well-maintained, well-functioning and well-managed. This means asking numerous questions you may not have even considered: Does the building have enough insurance? Does its management prepare annual financial statements in accordance with generally accepted accounting principles? Does it have a realistic annual operating budget plus a reserve savings account to pay for major maintenance?

These are just a few of the 38 points Strichartz recommends potential buyers consider. To receive his full list and explanatory comments, which he is making available by e-mail only, send a request to friends@condo.com.

As a side note, Strichartz subtitled this report "Friends Don't Let Friends Buy Condos" not because he thinks people shouldn't buy them, but to get their attention. Condo ownership "is not something that should be done lightly," Strichartz counsels.

Q: Our neighbor has an old house and very likely an old sewer system. He thinks roots from trees my home's developer planted eight years ago on the property line are causing a blockage to his main sewer line. We have no control over where these roots go, nor do we know if they're causing his problem. What's our liability should he present us with a plumber's bill?

A: "Good question," says attorney Greg Lawless of The Lawless Group. "The principle of law we're talking about here is called 'a private nuisance,' which is not a very precise area of law. The test for a private nuisance, which would give the adjoining neighbor a cause of action, is whether the use is 'an unreasonable interference.' "

Thus, one question you and your neighbor must ask yourselves is whether it is reasonable for tree roots to wander past boundary lines. Lawless thinks it probably is.

However, there is a 1945 Washington legal case that held otherwise. The "Lady Willie Forbus vs. Knight" case, which was argued all the way to the state Supreme Court, ultimately held that a neighbor is responsible for his tree's roots if the complaining neighbor can prove a specific tree is responsible for the clog.

"That case involved a whopping bill of $12.50, and the plaintiffs went to the extreme of having the University of Washington's forestry department do an analysis proving the root ball came from the neighbor's tree," says Lawless. "The problem with the case is that the Supreme Court based its ruling on procedural grounds, and never addressed the issue of the liability for the tree roots. So it's not a case you really want to rely on."

Q: I live in a condo. Does the land under the condo belong to me? Can I get a reverse mortgage?

A: The answer to your first question depends on your home's legal description, which you'll find in documents you got when you purchased. Sometimes called "planned unit developments (PUDs)," attached housing can be a condominium or what's called a zero lot line development. In a true condo, you don't own the land under your unit. In a zero lot line project, you do.

To get a reverse mortgage, you must meet certain criteria. Among them: The property must be owner-occupied, and at least one owner must be 62. "The vast majority of seniors who get a reverse mortgage get the type known as the Home Equity Conversion Mortgage (HECM), which is backed by FHA," says Gretchen Bruce, who manages the Fremont Public Association's housing counseling services. "This means that the condo complex must meet FHA lending guidelines." To learn if your condo is on the FHA's approved list, go to www.fhainfo.com/condos.htm.

Also eligible for reverse mortgages are single-family homes, manufactured homes (if permanently affixed to the owner's own land), PUDs and one- to four-unit buildings as long as the owner lives there.

Bruce says now is a particularly good time to get a reverse mortgage. "With interest rates so low, seniors are getting about twice as much as they were two years ago," she notes. For example, the owner of an Edmonds home worth $250,000 would have received a net payout of $69,900 then. Today, this owner's payout would be $139,950.

Reverse mortgages also are offered by Fannie Mae and Financial Freedom. The Fremont Public Association offers free information and counseling about reverse mortgages, as well as other housing issues.

Call 206-694-6766 Mondays, Wednesdays and Thursdays from 10:30 a.m. to 4:30 p.m.