Before buying that townhome you're interested in you should schedule a meeting with the homeowners' association to determine some essential facts.

First ask for a copy of the Covenants, Conditions and Restrictions, otherwise known as the CCR. Read the document before going to the meeting.

Here are some things you want to learn about. Find out whether the association is planning any special assessments to pay for maintenance that should have been done long ago. You weren't living there then so why should you pay for it?

Try to determine how many capital improvements are in the planning stage and how much your special assessment will be to implement them.

Inquire as to the status of the cash reserves of the homeowners' association. If there's no cash reserve think about buying elsewhere.

You should ask about litigation. If the complex is the subject of lawsuits that could result in a special assessment. Do you really want this liability?

Ask about the frequency of dues increases. If they are frequent and significant try to find out why. Was special maintenanace needed? Was the money being spent properly.