Seattle Condo FAQ

Frequently Asked Questions About Seattle Condos

These are the questions I hear most often from buyers considering a condo purchase in Seattle. If your question is not covered here, reach out directly and I will get you an answer.

How much are condo HOA fees in Seattle?

Seattle condo HOA fees typically range from $250 to $1,500+ per month depending on building size, age, amenities, and services included. Smaller buildings tend to fall in the $250 to $500 range. Mid-rise buildings with elevators and professional management run $400 to $750. High-rise luxury towers with concierge, fitness centers, and pools often exceed $600 to $1,500. For a deeper breakdown, see our HOA fees guide.

What is a resale certificate and why does it matter?

A resale certificate is a disclosure document required by Washington State law when a condo unit is sold. It includes the HOA's financial statements, budget, reserve study, insurance details, rules, and any pending litigation. Buyers have the legal right to rescind a purchase based on the contents of this document. It is one of the most important documents in any condo transaction. Read our full resale certificate guide.

Can I get an FHA loan for a Seattle condo?

Yes, but only if the building carries FHA approval. FHA approval requires the building to meet criteria around owner-occupancy ratios, insurance coverage, and financial health. Not every Seattle condo building has it. If FHA financing is important to you, confirm approval status before writing an offer. More details in our financing guide.

What is a special assessment?

A special assessment is a one-time charge levied by the HOA to cover a major expense that reserves cannot fully cover. Examples include roof replacements, siding repairs, or elevator modernization. Assessments can range from a few hundred dollars to tens of thousands per unit. Learn what to watch for in our special assessments guide.

How do I know if a condo building is financially healthy?

Review the reserve study, annual budget, and financial statements found in the resale certificate. Look for adequate reserve balances (typically 40% or more of the annual budget), low delinquency rates, no pattern of frequent special assessments, and a recent professional reserve study.

What does owner-occupancy ratio mean for buyers?

Owner-occupancy ratio is the percentage of units occupied by owners versus renters. Most conventional lenders require at least 50% owner-occupancy. Low ratios can limit your financing options and may affect long-term property values. This is one of the first things I check when evaluating a building for a buyer.

Do I need a home inspection for a condo?

Absolutely. A condo inspection focuses on the interior of your unit: plumbing, electrical, HVAC, windows, appliances, and finishes. While the HOA maintains common areas and the building structure, knowing the condition of your specific unit protects you from costly surprises. See our condo inspection guide.

What are typical closing costs for a Seattle condo buyer?

Budget approximately 2% to 4% of the purchase price. This includes lender origination fees, title insurance, escrow fees, recording fees, prepaid property taxes, and homeowners insurance. Our closing costs guide breaks down each line item.

Can I rent out my Seattle condo?

That depends on the building's rules. Many Seattle condos have rental restrictions including caps on the number of units that can be rented, minimum lease term requirements, or prohibitions on short-term rentals like Airbnb. Review the CCRs carefully before purchasing if rental income is part of your plan.

What is a warrantable condo?

A warrantable condo meets Fannie Mae or Freddie Mac guidelines for conventional mortgage financing. Requirements include minimum owner-occupancy ratios, limits on how many units a single entity can own, adequate insurance, and a financially stable HOA. Non-warrantable condos require alternative financing, which often means higher rates or larger down payments.

How are condo property taxes calculated in Seattle?

Property taxes are based on the assessed value of your individual unit as determined by the King County Assessor. Tax rates vary by location within the county. Your assessed value may differ from the purchase price, and reassessment typically happens after the sale closes.

What is the difference between CCRs and bylaws?

CCRs (Covenants, Conditions, and Restrictions) establish the community rules: pet policies, rental restrictions, noise regulations, and what modifications you can make to your unit. Bylaws govern the internal operations of the HOA itself: how the board is elected, how meetings run, and how votes are conducted. Both are part of the governing documents you should review before buying. Definitions for these and other terms are in our condo glossary.

Should I worry about pending litigation against an HOA?

Pending litigation is not always a dealbreaker, but it demands careful evaluation. Understand the nature of the lawsuit, the potential financial exposure to the HOA, and whether insurance covers the claim. Construction defect cases in particular can carry significant financial risk for current and future owners.

What happens if the HOA runs out of reserve money?

If reserves are insufficient for a necessary repair, the HOA will levy a special assessment on all unit owners. The amount depends on the cost of the repair and the number of units sharing it. Well-managed buildings conduct regular reserve studies and fund accordingly to reduce this risk.

How do I find the right condo building in Seattle?

Start by identifying your priorities: neighborhood, budget, building size, amenities, and how you want to live. Then dig into building-level details: HOA finances, reserve health, management quality, and any pending issues. Working with an agent who focuses exclusively on Seattle condos can save you significant time and help you avoid buildings with hidden problems. Browse Seattle condo buildings to start your research.