• The_Critic

    We recently had the management company refuse to provide a copy of the SIGNED management agreement because they were in trouble with the board and did not want their competition to be able to gain any competitive advantage in their bidding war. The board had changed many times and none of the current board members or past board members had any copies of it.

  • Anonymous

    Yes, I’ve had HOA officers refuse to cooperate for two reasons: 1) their position was voluntary and their aim was to do the least amount of work necessary; and 2) they had made poor decisions/errors (particularly with their reserve accounts) and did not want this to be documented.

    I have also run into situations where the builders developed the property as a condo to take advantage of some lower licensing costs, but then walked away without ever setting up a HOA at all, and after letting the purchasers think they were buying one half of a twin home/duplex.

  • Anonymous

    I had a client who really wanted to stay in her home of 20 years, but needed the extra money the reverse mortgage would give her to pay her condo dues. The HOA was not willing to put up the 10% reserves, and this was in a “tony” neighborhood. Well, a senior who lost her portfolio (my client) was out of luck. She cried.

  • Anonymous

    It will depend on the laws of the State governing the creation of a Condominium. It may be the case that some States do not adequately police the need for a HOA to maintain reserves. In todays environment many Associations will not qualify because of vacancies, delinquencies and lack of reserves. By refusing to accomodate a buyer with less downpayment then the Board believes is adequate is the same as discriminating against a buyer/borrower because they are of a race or class of people the Board members don’t think are good enough or responsible. Plenty of room for lawsuits in that case.

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