First Time purchase questions

[Tom Fontaine]

I am looking for my first purchase.  I live in Georgia and always wanted a place in Florida that we can use when visiting the area and rent it when we are not in the area.  I've come in contact with a real estate agent that is selling 2 condos in West Palm Beach.  They own it themselves but selling both properties for $130k each.  Both are currently rented and have been for 2 and 3 years respectively for 1250.00 and 1200.00 monthly.  I've asked if they are good tenants and been told yes although one pays a few days late but always has paid with a late charge.  What other questions should I ask to make sure of what I am getting into?  They have told me they are selling and moving closer to where the bulk of their rentals are and trying to get rid of these.  What can I ask for prior to the sale?  Rental records?  I don't want to visit and tour if things don't seem right.

[David Sicherman]

yes, ask for rental records for the last couple years (roles) maintenance records, copies of the leases, find out rental rules for the condo assn if new owners buy, some have odd restrictions, find out if there any special assessments coming up in the condo.  Sounds like you need a realtor if you are new and you are already talking to a realtor.  He will have to split his commission with your buyer agent, so no reason to not let the agent do his/her job and do all this for you and more.