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@CreditInspired wrote:And this is why I love HOAs. I hate living near someone who feel they can have 100 plastic flamingos in their front yard, or old cars with flat tires in the driveway, or overgrown weeds taller than an adult. Yep, I'll pay the fee gladly.
It would be nice if the OP @mrshulkisloislane would come back and let us know what's happening. But as we've drifted into a discussion of HOAs, here's why I HATE HOAs:
Around 1998 I bought a condo in Honolulu, where I was living & working in hotel management. The previous owner, who had died, had apparently done a number of alterations to the unit. Right after I moved in I got a letter from the HOA, I assumed it was a "welcome to the neighborhood". Nope, it was a demand that I undo all alterations and restore the unit to it's original condition. I asked around and found out the previous owner had been on the HOA Board, so I requested copies of the HOA Board meeting minutes for the past 5 years, paying the several hundred dollars they demanded. I found out the previous owner had discussed what he was planning on doing, even telling them he was getting a dumpster for the construction debris, and while they didn't take a vote to approve no one objected.So I sent a letter detailing that and telling them since they were aware and no one objected it was a tacit approval and I refused to undo anything.
They left me alone after that. A few years later my employer transferred me to Las Vegas, so I put the condo up for sale. A few days before closing the Escrow officer sent me copies of closing documents, and I noticed a $1700+ payment to the HOA, and when I asked was told it was a "bill" for legal fees. I had never been sent a bill for anything, and the monthly HOA fees had been paid by auto draft from my bank account. The Escrow lady told me when I refused to pay it that she couldn't close Escrow unless it was paid, and I knew that meant I would lose the sale. So I paid the SOBs, and I will never ever again own anything with a HOA.
They're definitely a double egde sword, the pros as Credit Inspired mentioned. I've lived next to people who felt that since they own, they could do anythng they want which can lower the value of your House. Or cause fire hazard, and the list goes on. The cons as Dave has mentioned can bite you in the backside later on. I'm sure some HOA's cane be underhanded if they choose to.
Thing is even without HOA there are City codes that people are supposed to abide by and don't. Such as basic up keep. What bothers me about HOA, is that I don't want a commitee voting on whether I can paint my house, remodel my kitchen or change the brand of Toilet paper I use.
I'm fine with HOA for a Condo Highrise/resort living, but not so much for your typical neighborhood House.
As DaveInAZ mentiond, we are straying off topic but one of the things I've realized--and I'm 100% at fault about this--I don't attend any of the HOA meetings where homeowners get to vote on the majority of decisions made. If we don't attend the meetings, then our voices are not heard.
Now granted, before I even decided to purchase, major things like painting one's house, adding a deck, and major renovation decisions are included in the condo docs so I could say yay or nay to living in an HOA community. I was a Realtor and you'd be amazed at how many buyers dont read these documents, and you really have to. One contract I backed out of would not allow wood floors to be installed. Those that already had wood floors were grandfathered in. I love wood floors so that was a no for me; and I would have been some kind of beligerent if I had purchased and found out after the fact. But I could only blame myself.
@mrshulkisloislane
Has anything happened yet? Did you get legal advice?
Btw, I hate HOA's too so I chose a different property. Later the neighbors wanted to form a HOA, making me President.......guess what I said? My mom is in a HOA, she loves it and it's good for her situation and property values.
@mrshulkisloislane wrote:
there was severe mismanagement of funds previously which is why they were hired.
Did the "mismanagement" happen during the times you were paying the HOA fees?
Did they show how your/all members funds were allocated? Do you have receipts? (idk if their discrepancies could be due to any of that but....)