[olecapt]

Originally Posted by PinkString

The only high HOA fees in Aliante are in Club Aliante. The rest of the neighborhoods pay around $140 a month, Sun City last I checked paid less than the neighborhood I am in pays.

That is relaviely high pink. I was not talking about the club which is quite high. Around the area not in Aliante HOAs tend to be $25 or $30 per month or even nothing.

I don't think that bad by the way. Just that a $100 per month is rougly equivalent to $15,000 in base cost. For those trying to get in at the low end it may be a big difficulty. One of my clients really ruled Aliante out on the size of the HOA fee.

[gulfer]

WOW, 50K. I would either be very leary or very affraid to get one for that price. They're cheap for a reason!!!

Good Luck though and I hope you find a nice home.

[Yeti]

Can I ask a semi-off topic question?

With a HOA, I understand that the money goes to maintain the 'Community" and common areas. But who manages the HOA fund, how much say do the residents have in how the money is spent.

If a builder / Developer / 3rd party controls the HOA, what happens if said 3rd party goes bankrupt or goes to jail?

Is there ever any cases where a HOA is ended and the city maintains the "Community property"?

[olecapt]

Actually the $50K place is a reasonably nice development. I would check out the unit though before I made my bid.

HOAs start out controlled by the developer. When they are 75% owned by buyers it reverts to owner control.

There is some though limited control over the money. Mostly it comes in earmarked. You have to maintain the common property the pool, the gate. the external landscaping etc. Anything left over is disposed of by the board. The board is elected by the membership.

All this has lots of variability. You have to check the individual Docs.

They do on occassion go bankrupt. Basically the owners have to bail it out or go bankrupt as well.

I knw of no way the municipality would take over the development. In the worse case it gets bulldozed and the heirs end up with the vacant land.

[returnoftheyeti]

Adding to my first question.

When you own a Condo, you own the "unit" inside another building.

What rights do you have to the actual building?

THis is why overall I am opposed to HOA's and condos. You own something, but you dont control it. (Although this is true with a "regular" house, Emanate Domain and all that)

[PinkString]

I'm in a townhome, connected to 2 others. I own my unit, and my backyard. But i have to pay for my own roof, paint the outside of mine,etc. The HOA takes care of the landscaping in the front and sides, since it's outside of the unit.
Condo's have less ownership.
I don't necessarily like connected living, but there is no yard work, very low maintenance.

Olecapt, i think my hoa fees are high because of the gated neighborhood. We pay the master fee of $39 and the neighborhood fee of $65. I mistakenly put $104 as $140.