We recently reviewed documents on a REO condo.
Our review of the RESERVES revealed the reserves were underfund $80,000 per unit. Without our REVIEW the buyer would have either had to pay the $80,000 or take the bank to court over the issue.
It definitely pays to have Community Association DataSource and Jacquie Berry review the docs.
Friday, January 16, 2009
Monday, January 12, 2009
Buying a Condo?
Do you know if your HOA is going to assess you?
Can you refinance a condo that is underfunded in the reserves?
Buying into an HOA is buying more than a piece of property, you are buying a government.
Is it democratic or a ruled by fascist?
Jacquie Berry of Community Association Data Source can tell.
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