![]() ![]() Some initial questions to consider are:Īre assessments paid monthly, quarterly, or annually? These fees and dues should be explicitly outlined for you. Understanding the Financial ResponsibilityĮvery HOA comes with regular fees that are used to pay for expenses related to common areas. So if you have not yet completed the purchase, you should be able to ask the seller to provide these documents if they are not otherwise available. Members are entitled to all of these documents. Your research into the background of the HOA is important as you decide whether or not this is somewhere that you can see yourself living happily. The meeting minutes should give you some insight into how the HOA functions for its members, how often they meet, when the last election was held, and how well or poorly the board functions. But you also may want to read through the bylaws, any rules and regulations that the HOA has established, some recent financial statements, and possibly even meeting minutes of recent board meetings to see how the HOA operates (or how dysfunctional it might be). The CC&Rs are also available through the county recorder. If you are considering purchasing a home with an HOA, we strongly recommend you request a copy of all association documents. ![]()
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