HOA Insights

HOA Review as Negotiating Tool on the Price of the Unit

noreply@blogger.com (Gary C. Smith) — Wed, 18 Feb 2009 21:42:00 +0000

Foreclosures have hit Planned Unit Developments and Condominiums hard.
One of the first things a troubled buyer does is stop paying assessments on the property.
The HOA needs the monies to maintain the value of the property and stop deferred maintenance and losing further value.
How much money is missing?
Is this a negotiable item? YES!
The question is how much to negotiate.

Community Association DataSource REVIEW of the HOA’s financials would give the potential buyer the facts in 72 hours.
Facts on reserves, deficits, % in default, % of rentals, over 130 questions answered as per the DAVIS STIRLING ACT
Facts the agent can use to negotiate price.
Our review is complete in 3 days. Cost $375
Call Gary C Smith
510-914-0279
www.hoadocumentreview.com

Agents and Brokers are saying our review is more important than an appraisal or inspections

Condo Sales Lost by Slow Banks

noreply@blogger.com (Gary C. Smith) — Sun, 15 Feb 2009 23:04:00 +0000

In the time it takes a bank to review reserve funding, with the realtor in the ‘waiting loop’, sales are lost.

Community Association DataSource REVIEW of the HOA’s financials would give the bank the facts in 72 hours.

Facts of reserves, deficits, % in default, % of rentals, over 130 questions answered as per the Davis Stirling Act

Agents and Brokers are saying our review is more important than an appraisal or inspections.

CALL FOR of our review form:
Page 1-a listing of information required by The Davis Stirling Act,
Page 2- an accept/decline form to initiate a review,
Page 3-Request for Community Association DataSource to do a review.
Page 4 a list of reference for those of us involved in Condos and PUD.
With OVER 6,000 Satisfied clients-
We take the Mystery out of HOA Disclosure

Our review is complete in 3 days. Cost $375

Gary C. Smith
510-914-0279
http://www.hoadocumentreview.com/

An almost $80,000 disaster.

noreply@blogger.com (Gary C. Smith) — Fri, 16 Jan 2009 18:19:00 +0000

We recently reviewed documents on a REO condo.
Our review of the RESERVES revealed the reserves were underfund $80,000 per unit. Without our REVIEW the buyer would have either had to pay the $80,000 or take the bank to court over the issue.
It definitely pays to have Community Association DataSource and Jacquie Berry review the docs.

Buying a Condo?

noreply@blogger.com (Gary C. Smith) — Tue, 13 Jan 2009 02:05:00 +0000

Do you know if your HOA is going to assess you?

Can you refinance a condo that is underfunded in the reserves?

Buying into an HOA is buying more than a piece of property, you are buying a government.

Is it democratic or a ruled by fascist?

Jacquie Berry of Community Association Data Source can tell.