It never ceases to amaze me when a buyers agent says to me oh the buyer's don't have time to read the docs, I told them everything was okay.  I'm on our condo board and we just made a significant ammendemnt to our documents.  Anyone who is buying a unit and blows off reading the documents could be in for a very costly surprise.

Always read the documents no matter how boring they seem.

 

Via Alan May, Coldwell Banker Evanston Realtor®, Evanston Real Estate (Evanston Condos, Evanston Homes, North Shore Homes):

Earlier in the week, I published an article. where I discussed the fact that a Home Owners Association was refusing to live up to their legal requirements.  I know that very few of my readers actually read the article, they just drop by to see what "header" I'm using today, look at the funny pictures I have in my post, and leave me a comment.

I'm oddly okay with that.

But a few of you were wondering, just what rule, just what law was the HOA willing to break.

Now that the thing finally closed (at 4:00 on Friday), I can tell you that at the closing the Homeowners Association announced that along with the fact that they were not providing the minutes, nor were they providing the required 22.1 survey (do you have any current or pending lawsuits, upcoming special assessments, litigation of any kind, capital project... you get the idea), even though they'd have 4 weeks to provide it... and to top it off, they were going to change my clients parking space from number 1, to number 43.

They were relying on the premise that most people just won't put up a fight, and since they want to close, on Friday afternoon, and they probably have a moving truck waiting outside the building...

Well, they were wrong.  We not only were willing to wait to receive the minutes, the 22.1 and give some time to REVIEW those documents... we had a problem with the parking space reassignment, since the space was a LIMITED COMMON ELEMENT and cannot be reassigned without the express permission and a vote of 75% of the residents. (At least not according to Illinois Condominium Law).

At one point, my client asked: "Why can't I just close and assume that everything will be done properly?" She was getting frustrated with the process and the delays.  Well, you could... but if you wanted to close without all of your rights being protected, you hired the wrong Realtor and he recommended the wrong Attorney.

"But this is the way we've been doing it for 23 years", gee and who did our desirable parking space (which had been attached to our unit for the last 30 years) go to?  Why, it went to the board member in charge of parking!!  What a surprise, and welcome to Chicago.

Well, now is the time you're going to stop.  We did get our proper parking space. (duh).  It's in the condo declarations, and on the plat of survey.

ALAN MAY, Realtor®
Specializing in Evanston Real Estate and North Shore Real Estate
Coldwell Banker Residential Real Estate, 2929 Central Street, Evanston, IL 60201
847.425.3779      Cell: 847.924.3313      Email: Almay@aol.com

Evanston Real Estate & North Shore Real Estate

Do not copy the content of this blog, for use elsewhere, without first contacting the author for permission.  Reblogging,
when the button is available, is allowed. All other use is strictly prohibited without express permission from the author.

                No Hassle-No Pressure-Just Straight Talk About The Northern Virginia Real Estate Market

If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and CJ Realty Group, Inc a call at 703-346-2213. 

Military Relocation Specialist serving military families relocating to and from the Pentagon, Fort Belvoir, Quantico MCB and all of the Military District of Washington installations. 

Check out www.varealestatetalk.com and www.cjrealtygroup.com for more information.
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4 Comments on Limited Uncommon Elephant

DEC
19
2010
1,210,315 Points 118 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Cindy,

I was reading Alan's excellent blog and I was dreading the moment as I was going down the page, to see "Comments are disabled by the author".

What a relief. Because I wanted to comment to you that it is important to understand issues with condos in general and with a specific condo in particular, which is well supported in Alan's excellent blog.

And I also wanted to say "Thank you" as I would have missed it.
3:35pm • #1
532,055 Points 45 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Cindy, our area has issues with HOA docs, I have yet to represent a buyer and have the HOA docs delivered within the accepted timelines of the law. I just don't understand it, people just ignore it.

How did the cookie situation finally come out
3:54pm • #2
277,190 Points 4 Featured Posts Called Shot Master

Yes, I wanted to comment, too.  I always sit with my clients and say these are the issues; however, I am going to give you all the time you need to each section over as we go through it, so you can ask questions, if you like.  I also let my clients know how very important it is to read all the HOA docs, as well as the financial budget which tells a story.  I don't want anyone ever to come back and say, you didnt' tell me this or I didn't read it.  In fact, as I read over this blog, I'm wondering if I might not want to include a document that states, I have read all these documents.  I think I'll talk with out attorney and let them come up with a document stating that the clients have read a particular document.  Thanks for the repost, and always glad, like Jon, that the comments were not turned off. :) Gail
4:02pm • #3
DEC
20
2010
1,522,477 Points 162 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Jon-glad to be able to give you a view of Alan's good post.

Gerry-getting our docs isn't as much of a problem as people remembering that for resales they only have 3 days to read them and 10 days for new construction. They can cancel the contract for no reason during the review period. 

Gail-I think it is a good idea to have an additional document that helps limit our liablity beyond the standard form that comes with the contract.
3:50pm • #5

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Cindy Jones-Northern Virginia Real Estate & Military Relocation Services

Woodbridge, VA

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