Real estate agents representing buyers and sellers of condo/HOA units should be asking for a detailed list of pending litigation AND fair housing complaints when getting HOA financial packages.....even if there is no budget item for attorney/legal fees.

 


This complaint by the VA AG's office shows how important reading the HOA rules and regulations AND asking about current or pending litigation impacts would-be buyers and sellers.

Sellers should have copies of the board minutes as well as annual meeting minutes and review the board's actions that may not have been done in accordance with local, state and federal laws.

 

http://hamptonroads.com/2010/09/state-sues-community-over-ballplaying-ban

 

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans


"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

 
This post has been included in Virginia Real Estate News
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6 Comments on Condo Purchasers * Ask about FAIR HOUSING COMPLAINTS Against the HOA

OCT
08
2010
424,724 Points 45 Featured Posts Outside Blog Attended Rain Camp

Good things to look into before buying a condo.  So many things to worry about.
7:53am • #1
705,119 Points 56 Featured Posts Outside Blog Called Shot Master

That is a good tip that is not always thought of... thanks for the heads up
8:01am • #2
957,004 Points 53 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I had not thought of that either.   We always get the Board's minutes, financials, etc. shortly after the properties go U/C, so will add this piece of advice to my list.  
8:49am • #3
1,740,268 Points 20 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Wallace,

Great ideas. We know to ask about the budget, reserves, and solvency, but pending litigation is a great issue to know about. :)

Steve
12:49pm • #4
OCT
09
2010
1,740,268 Points 20 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Wallace,

Congratulations. This post is now featured on "The Law Of The Land." :)

Steve
10:01pm • #5
NOV
24
2010
1,023,136 Points 66 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Most real estate agents and few owners would EVER think to question this and they certainly should!
1:03pm • #6

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Wallace S. Gibson CPM *

LandlordWhisperer

Charlottesville, VA

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