Massachusetts Condo Due Diligence Checklist

Confirm you received these

Commonly provided in the resale package — verify none are missing.

• Estoppel Certificate (6(d) certificate) — Required by M.G.L. c.183A §6(d) to state unpaid assessments and lien status. Buyer should request it.
• Reserve Fund Status — Not statutorily mandated in resale packet, but the reserve is required by law. The actual reserve balance and planned uses should be provided (often included in budget/financials).
• Association Insurance Policies — Owners have legal inspection rights. The declarations page of the master policy and deductible schedule are especially important.
• Financial Statements — Law requires annual financial reports (balance sheet, income/expense) be prepared and available. While the statute doesn’t force delivery to buyers, associations normally provide the latest year-end financials and CPA review (for ≥50-unit condos) or accounting statements.
• Master Deed / CC&Rs / Declaration — Governing document of the condo.
• Bylaws — Association bylaws including voting rules, meeting rules.
• Rules & Regulations — Any rules book (parking, pets, etc.).
• Current Budget (operating) — Shows planned assessments and expenditures.
• Financial Statements (latest year-end) — Income/expense statements and balance sheet.
• Reserve Account Statement / Reserve Study — Current reserve fund balance and any studies (not required by law, so ask if existing).
• Board Meeting Minutes (recent year) — Minutes of board or member meetings may reveal special assessments or issues.
• Annual Meeting Minutes — If held, important for major decisions.
• Insurance Master Policy (Master binder or dec page) — Showing coverages and limits.
• Deductible Schedule — If available, especially for wind/flood (often in declaration page or separately).
• Claims History — Records of insurance claims (some states require, MA does not, so request).
• Litigation Summary — Any pending lawsuits, claims, or arbitration involving the association or units. (Not required by law; must be requested.).
• Special Assessment Notices — Past or upcoming special assessment notices or ballots.
• Loan Documents — Any outstanding loans (bond indentures or mortgages on common area).
• Engineering Reports — Structural/roofing/parking deck inspection reports. (Not mandated; ask proactively if the board has any reports, especially in older buildings.).
• Facade/Balcony Inspection Reports — If in Boston or similar, copies of required façade inspection reports and city certificates of compliance. (Important in Boston due to local law.).
• Violation Notices — Any outstanding code violations (often available via city records search, not typically provided by association).
• Delinquency Report — Percent of owners delinquent (available from association).
• Management Contract — If a professional manager is used, review the contract terms (not required by law, but sometimes informative).
• Developer Transition Docs — Contracts, escrow agreements, or phasing plans related to developer turnover (if not already turned over).