We moved out of a house with a huge patio into a nice condo in a great nouns about 18 months ago. The developer have converted them from apartments and put in closely of nice finishes, then sold them as foreign. Between the time we bought our unit and the time the ending unit be sold, the developer had dipped into the reserves and moved out the HOA with solely $20k for 48 units.
18 months latter, we have no more than we started next to, and we need comparatively a bit of money for roof patching and pool repairs. There is talk of hiking fees from $135 to $200 forever, and temporarily to $400 for the first half of subsequent year.
We do miss having our own home but love the freedom of no yardwork. I would resembling to wait this out, but don't want to be stuck here forever when no buyer requests to pay the $200 payment. Should I sell right away to bring a jump on this back the other units create competition or am I simply in frenzy mode? I need an outsider's evaluation.
Answers: See the real estate attorney that did your closing.
A developer CANNOT dip into HOA reserves...explicitly what they call stealing and someone in your HOA desires to be smart enough to integer that out and sue the pants stale hiim and make him income the money back that he stole.
Keep within mind, that once the fees get so high-ranking, it can practically render your property unmarketable.
18 months latter, we have no more than we started next to, and we need comparatively a bit of money for roof patching and pool repairs. There is talk of hiking fees from $135 to $200 forever, and temporarily to $400 for the first half of subsequent year.
We do miss having our own home but love the freedom of no yardwork. I would resembling to wait this out, but don't want to be stuck here forever when no buyer requests to pay the $200 payment. Should I sell right away to bring a jump on this back the other units create competition or am I simply in frenzy mode? I need an outsider's evaluation.
Answers: See the real estate attorney that did your closing.
A developer CANNOT dip into HOA reserves...explicitly what they call stealing and someone in your HOA desires to be smart enough to integer that out and sue the pants stale hiim and make him income the money back that he stole.
Keep within mind, that once the fees get so high-ranking, it can practically render your property unmarketable.