Just a quick post here but I came across a story today discussing the new state law requiring condominium associations to disclose their financial stability. This article ties in well with my post last week dealing with reducing the risks of assessments. Enjoy reading!
As a Realtor who spends much of my time in the condo market…one of the most important things I review for my clients is the numerous aspects surrounding the home owner’s associations. There are many rules and regulations that must be studied as well as financial reports to be reviewed. No one wants to move into a complex and find out just a few months later that they will have a large assessment against them for a repair in the complex that cannot be covered by inadequate reserves. …more
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