HOA Documents for New Developments in Madison/Huntsville/County (mortgage, house)

[ionlife]

I've spent days reconnecting all the dots and revisiting the websites I visited oh so long ago. I compared new developer/builder of new developments website posted restrictions within the developers/builders different communities as well as between the different builders. Without exception, ALL the docs I read (still need to follow up on one builder) had the builder/developer in charge/able to veto/on the board/the only one in power until EVERY LAST LOT SOLD or until ten-15 years passed from time of document posting. And there was an uncanny similarity between the docs both in length and in wording of terms.

In fact, our docs for our sub are actually less tight and provide an option to get the declarant out via a written declaration to that fact by the declarant. Going over my HOA and the other docs, I realized that I did see the restrictions posted and covenants on the builder's website, but I don't remember seeing bylaws posted. And I never saw the actual subdivision website until after I moved into my home and a neighbor sent me the link. I remember seeing one section where the declarant could write away his powers and transfer them to the HOA Board and, oops, my bad, I believed that would be the case as I had no reason to believe he wouldn't want to surrender rights.

Now I believe NONE of them want to surrender rights if they are up to their eyeballs into debt due to the development costs not being born by the huge influx of buyers predicted eons ago by the anticipation of the BRAC. Add to that the economic meltdown in fall, 2008, and now there is an even greater urgency to circle their wagons.

I think a lot of developers/builders of new subdivisions in this area are using the HOA dues as ways to get income from the Homeowners because they overextended themselves with pushing too much dirt and now they have poor cash flow.

If people don't have to worry about schools, then they can look at older, established neighborhoods without these possible problems looming over them, or they can go to areas where the developer doesn't have 49 pages of laws, restrictions, and more that hold the buyer/mortgage payer hostage for up to 15 yrs. to that developer's whims.

[guxu]

That's what I thought too. The developer put their employee as our HOA Manager. Pulling $50K from our HOA as her salary for sitting in the club house. She did not even drive/walk around to deliver the community news letter. Instead, she put everything in the mail. At certain point, the developer even put an assistant for her.

There were also some questionable spending from HOA budget. Once there was a $50K charge for a "Underground project". I asked them what was that for, and should developer pay for it. (They were still developing new streets and selling lots.) Never got the answer.

[ionlife]

Originally Posted by guxu

That's what I thought too. The developer put their employee as our HOA Manager. Pulling $50K from our HOA as her salary for sitting in the club house. She did not even drive/walk around to deliver the community news letter. Instead, she put everything in the mail. At certain point, the developer even put an assistant for her.

There were also some questionable spending from HOA budget. Once there was a $50K charge for a "Underground project". I asked them what was that for, and should developer pay for it. (They were still developing new streets and selling lots.) Never get an answer.

We want to know how we can get an independent audit of the developer's HOA books because technically we are investors in his development. Ping me a DM--I'd love to know your subdivsion.

[vakinderegg]

Dramamama ,nice to see you again! You always have something interesting to discuss! Interesting...I read my HOA booklet again the other night....since HC is an established community we do not have the BS you are going through.

guxu...I wonder how I can get a job like the one you described!!!!!!

[ionlife]

Yeah, I'd love to make 50,000K a year to sit around and do nothing--or maybe I could bring my laptop and work on more interesting writing projects!

[guxu]

Originally Posted by dramamama

Yeah, I'd love to make 50,000K a year to sit around and do nothing--or maybe I could bring my laptop and work on more interesting writing projects!

You do not have to bring your laptop. Our club house has cable TV, phone, fax, internet, and of course computer.

[ionlife]

LOL guzu! I'd only bring it so I could work on my current WIP... LOL. Course I could just bring a memory stick and plug it in. You all hiring a new clubhouse sitter? I'll do it for half the price LOL.