[SmithL]

WHAT IS A HOMEOWNERS ASSOCIATION?

An organization that oversees the maintenance and management of common facilities and areas -- such as landscaping, pools, exterior walls and fences -- in townhouse, condominium and other so-called common-interest developments.

WHAT IS A SPECIAL ASSESSMENT?

A one-time fee levied by the board of a homeowners association, above monthly membership dues, to pay for common repairs or other expenses. In most cases, such a fee must be approved by a majority of a quorum of homeowners.

WHAT SHOULD YOU DO?

Buyers considering a common-interest development should always scrutinize the association's reserve audit and the past 12 months of board minutes, both of which should indicate anticipated repairs and whether there are adequate funds in the reserves to pay for them.

[CrawDaddyCA]

WHAT SHOULD YOU DO?

Don't buy a house/condo in a subdivision that has a Homeowners Assc.

[68skylark]

Interesting article -- thanks for the post.

[investigateworld]

Speaking from umpteen years of experience in the construction biz, "Condo quality" is a running joke.

Most people involved in condo construction use limited partnerships, fictitious names et al, and a whole series of cut-out dummy companies. Nobody wants to be associated with a condo history.

[Rusty0604]

This happened to me. I bought a condo, read all the minutes and financials before purchasing, and 6 months later was informed that all the roofs need to be replaced and have to pay a special assessment. I tried to fight it because it was not disclosed but couldn't.

[free_at_jsl.com]

I think the main objection here is that some "association" is deciding how to spend the "dues" for the "greater good". When a person "owns" property, they don't have to worry about such things. When they buy into one of these communist organizations, then they must abide by the terms of the contract.

I nearly bought a place 10 years ago that was one of 3 units on a lot with a shared driveway. Everything else was perfect but for me, the shared driveway was a deal killer. I ended up with a standalone SFR and have never once regretted it.

[Richard Kimball]

That fact doesn't makes it any easier for the typical homeowner to swallow a five-digit assessment. It can be especially difficult, as well as unfair, for recent buyers. They have to pay an equal share of the fees, even though they typically have enjoyed less home value appreciation to offset the cost, and much of the wear and tear occurred under the previous owners' watch

"Unfair" is a word that should be put on Humpty Dumpty's flexible language list. It means whatever you choose it to mean. If you buy a condo, house, or duplex in perfect condition, you will most likely pay more money. If you buy a structure that needs repairs, you should get a discount for purchasing a building in less than perfect condition, but SHOULD expect to be out of money in the near future to make those repairs.

If you overpayed for something because you didn't research or have a building inspector, well, guess who's fault that was? Condo owners should also be aware that they're basically joining another government, and this government will frequently affect them far more personally than the city, state or feds.

[robertpaulsen]

"But Morrison was stunned when, as he scanned the notice last June, his eyes landed on the proposed amount: $18,494.27."

Oh, tell me his condo hasn't gone up in value at least that amount since he bought it -- especially after the repairs.

[holyscroller]

Never buy anyplace where there is a homeowners association. They always attract power hungry types who want to control other people to run for office. There's no end to the number of ways they can cook up to spend your money and make your life miserable.