HOA newest outrages fee ...unbelievable (Riverview: condominium, mortgages, homes)

[The Villages Guy]

Originally Posted by tinytrump

I told you so--- there are very few rules to contain the condo commandos and the HOA nuts, good luck...

Yep. There are good and bad things about having an HOA. Power trip HOA board members and bad management companies are the bad things. We currently have an HOA and the neighborhood is kept up spectacularly. It really makes a difference. BUT there can always be a downside. People really need to weigh what they want.....but you never know when some nut job will be voted onto the board.

[bentlebee]

Originally Posted by TampaKaren

I don't know if it's my writing- or your reading-, but one of us has a comprehension problem. It is up to the buyer(s) to do their due diligence and bentlebee is trying to get information to facilitate that requirement. I wrote nothing about miscellaneous covering everything a buyer might want. I'm sorry for the miscommunication.

I saw nothing outside the ordinary in the request to the PM. Maybe the person had a bad day; maybe the person was overworked, IDK but either way, the PM works for the HOA and is there to provide a service. If additional charges were to be involved, the PM should bring it to the HOA and let them decide how it's handled.

In my own neighborhood there are sellers saying there are no deed restrictions or HOA dues which is wrong - we have both - and a property management company who works for the association.

If you look further up in this thread, the property is owned by a bank. I'd be curious to know how your system would make Fannie Mae provide HOA information. At least the listing agent disclosed a phone number for fact finding.

Thanks Karen. I spoke 3 x with a person from this HOA PM company and all they had to say is "get the questions in writing", which I stated that i had presented within 5 min. the day I was told to do that.

They didn't tell me that there was a limit on how many questions and I asked the question by phone first but was told they never answer questions by phone after they had me inform them what my questions where...they didn't mention anything about the fee either so i felt it was almost like a punishment for calling them 3 x and asking for an answer.

The listing agent handled it very well and we have not informed her yet since we presented an offer prior to getting the info since it was taken so long and with bankowned it is uncertain when banks will decide which offer they will take or counter and after 10 days still have not heard anything. This is a home path property.

Again we also deal with very well run HOA PM and some are outstanding and very professional and easy to get some info for a client.

Btw i'm also an investor and also want to get the same info prior to buying and don't make offers in communities with horror HOA's!

The previous poster is right, when a change occurs things can change for the better or worse but they can also stay the same and I still prefer a HOA over some of the areas where nice and bad properties are next to each other.

[lvoc]

Originally Posted by TampaKaren

I don't know if it's my writing- or your reading-, but one of us has a comprehension problem. It is up to the buyer(s) to do their due diligence and bentlebee is trying to get information to facilitate that requirement. I wrote nothing about miscellaneous covering everything a buyer might want. I'm sorry for the miscommunication.

I saw nothing outside the ordinary in the request to the PM. Maybe the person had a bad day; maybe the person was overworked, IDK but either way, the PM works for the HOA and is there to provide a service. If additional charges were to be involved, the PM should bring it to the HOA and let them decide how it's handled.

In my own neighborhood there are sellers saying there are no deed restrictions or HOA dues which is wrong - we have both - and a property management company who works for the association.

If you look further up in this thread, the property is owned by a bank. I'd be curious to know how your system would make Fannie Mae provide HOA information. At least the listing agent disclosed a phone number for fact finding.

Yes Karen - I read very well. And am continuously amazed at how badly RE Agent understand our business.

Bentlebee and agent, if one is present, have to do their due diligence. That in no way obligates a PM to provide them with what they may desire.

I read the thread and was aware that a bank owned the property. That in no way relieves the listing agent of supplying basic information on the property. If they don't take them to the local board.

The normal set of documents required to be supplied in Nevada would answer most questions. We don't have sink holes so that would not be dealt with. In order to get those documents you would have to open escrow...but you would get them and five days to say yea or nay. And they would be free...and the bank would have to provide a Sellers Real Property Disclosure detailing their knowledge of the property. And note they can't duck...if their property management op knows they have to disclose.

I don't know the details in Florida but we are a cheap and buyer beware state. If you can't do any better you ought to reorganize your board.

[cully]

Originally Posted by bentlebee

The questions are not related to any liens. We just wanted to know if any budget was accepted with a HOA increase in the near future. Any assessments? If there are any reports of stucco issues or litigation and any rental rules and application fees.

These questions are not abnormal and this HOA is managed or mismanaged by an official HOA management company that calls themselves "Elite"...

Doesn't matter to many hoa's. Unit not paid up = no responses by phone, email, snail mail to any request in many cases.

[roadtrip75]

Originally Posted by cully

Doesn't matter to many hoa's. Unit not paid up = no responses by phone, email, snail mail to any request in many cases.

Can anybody explain why they do this? If the property is sold, the HOA begins to collect fees on it again, so there is a financial incentive for the HOA to assist sales.

[IC_deLight]

The homeowners are not the management company's clients. The homeowners are the prey.

The management company has a contract with the HOA corporation. The management companies tend to utilize very aggressive contracts. The typical HOA corp board member has no idea that the management companies seek to usurp the board's control over banking, insurance, resales, all other vendor relationships, and collections. Unfortunately many homeowners are misled into believing that the HOA management company works for them. It does not.

Just think what happens when you are the one trying to sell property in that subdivision and the management company can threaten to jeopardize the sale of your home lest you pay them more money. Many times the "more money" is in the form of an "expedite fee" - they set a useless timeframe for starters and demand additional "expedite" payments to provide documents within the typical timeframes for buyer due diligence. This is just the beginning of useless "fees". Resale certificate fees, inspection fees, estoppel fees, "transfer" fees, etc., etc. - all going to the management company, not the HOA corporation.

[bentlebee]

Originally Posted by roadtrip75

Can anybody explain why they do this? If the property is sold, the HOA begins to collect fees on it again, so there is a financial incentive for the HOA to assist sales.

You nailed it!

It is short sighted of the HOA!

I don't think every HOA board is aware how the property management company is handling things and that is why in the community I live in the PM company will be fired shortly!

We also found out things that we as home owners are not happy with and it took too long for the board to see it as we already saw it. Rude and un polite behavior towards home owners and not to be reached for home owners who are behind in payments but who want to pay. I know very well that not every home owner is telling the truth but when almost 99% of all home owners have the same experience there is a truth to it and time for a change!

As stated prior the sellers agent in my OP has done the right thing and provided the info. I agree that property disclosures need to be filled out even by banks and that will hopefully change in the future. Lenders are aware if sinkholes were reported since we have reported it to lenders prior to them foreclosing and they never disclosed it to the new agent after it was listed as a REO and claimed "never lived there, no info" while we reported it when it was listed as a short sale and also provided pictures of adjecent sinkhole issues.

Lenders are protected by some sellers agents who are lazy and rather cross out the disclosures and write "seller never resided at property and is not aware of any issues"...this can hunt them when on a previous listing things are disclosed and I hope that will teach them a lesson if things will go to court one day...

In this case the HOA PM company might not even put the $ 75 on the budget and just pocket this money while home owners might not be aware of the fee being charged....or not, I have no clue but I know our HOA doesn't disclose some fees they have been charging and we are not aware of.

Similar are the hidden title fees that some ludacris title companies are charging now...

[tinytrump]

No set rules, and many cases they take off with the money,,, no transparency or accountability, everything is a secret... hmmm. One person told a lady the state FL, mandated by law that only 55+ could live in the condos, or it was illegal. Funny thing is the blg next door same complex-had a diff HOA and they allowed one owner/ renter to be 55 and the other at least 40+...they have never been able to break into those clandestine HOA's -least not in FL. I have met some very nice people who run them but for the most part,,, eeecchhh

[LynnKrause1]

Our HOA which has a 4 million dollar budget, I might add, charges sellers $200 for the documents. $75 isn't that big a deal in the scheme of things. HOA's are insidious and therefore, I am selling to be rid of them.

[cully]

In addition to the previous comments, imagine staying afloat and then there's a special assessment so you list your house, clean but not modern because, again, staying afloat, and the result is according to the managment company you now are not paying monthly fees AND the special assessment. So they are going to be hard on the communicaitons end. This happened to a house we used to admire. It's since been bought and looks nice outside. But, yes, a big problem was lack of communication.

I don't know if when these rules were initiated in general it was thought a person was a terrible creature for missing payments. If they were created in better times. If PMs were then hardened and followed the letter even when people who could never ever imagine things going bad - degrees, good jobs, nice family, no addictions - were then in dire straights.