You’re not kidding about those “pending” projects. I had a client last year who thought she’d done all her homework—dug through the HOA docs, read the minutes, the whole nine yards. Then, right after closing, she got hit with a notice about a new roof replacement project that hadn’t even been mentioned in the disclosures. The kicker? The board claimed it was “just being discussed,” so it didn’t show up as an official assessment yet. She was not thrilled.
Funny enough, lenders rarely catch those unless there’s already a special assessment in place. Most of the time, it’s up to the buyer (or their agent) to dig through meeting notes and ask pointed questions. It’s wild how much can be buried in those monthly board meetings.
Have you run into any boards that are actually transparent about their future plans? I’ve found some smaller HOAs are better at communicating, but with bigger developments, it’s like chasing shadows.
You nailed it—those “just being discussed” projects are a real headache. I’ve seen buyers blindsided more than once, even after combing through docs. Smaller HOAs sometimes do a better job, but big ones? It’s like trying to read tea leaves. Just goes to show, you can do everything right and still get caught off guard. The best you can do is stay persistent and keep asking those tough questions... even if it feels like overkill.