Have you checked if there are any special assessments coming up? Got blindsided once when the HOA suddenly needed a new roof... definitely taught me to dig deeper into the financials before closing.
"Got blindsided once when the HOA suddenly needed a new roof... definitely taught me to dig deeper into the financials before closing."
Yeah, special assessments can really sneak up on you. Had a client once who thought they were all set until the HOA decided the pool needed a complete overhaul—talk about an expensive surprise. Honestly, it's always worth spending extra time combing through those HOA docs and financial statements. Might feel tedious, but trust me, it's way better than getting hit with an unexpected bill down the road...
Yeah, those HOA docs can be a maze sometimes. When I refinanced, I made a checklist—reserves, upcoming projects, past assessments—to avoid surprises. Curious, did anyone here actually negotiate down their purchase price based on shaky HOA financials?
When we bought our condo, the HOA docs were definitely a headache—I swear reading them felt like decoding ancient texts. We didn't manage to negotiate down the price, but a friend of mine did after discovering some major roof repairs were coming up. Lucky break, honestly...wish we'd thought of that!
Totally relate to the HOA docs headache—felt like I needed a law degree just to get through ours. We actually caught a clause about upcoming balcony repairs, and that helped us negotiate a bit. Not a huge discount, but every bit counts when you're budgeting. Honestly, it's crazy how much stuff can be buried in those docs...makes me wonder how many people miss important details.
