Tag Archives: Disclosure

Home Buyer surprised by $10K HOA special assessment 2 months after purchase

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What home buyers don’t know about the HOA can hurt them By Deborah Goonan, Independent American Communities Eight years ago, when my husband and I were house hunting in Florida, our needs, we thought, were simple: 3 bedrooms, 2 bathrooms, all on one level (very common in Florida), and less than 20 years old. Having owned two fixer-upper homes in our lifetimes, we did not want to go through the hassles of a major renovation Continue ReadingHome Buyer surprised by $10K HOA special assessment 2 months after purchase→

SC bills would regulate HOAs in three ways

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By Deborah Goonan, Independent American Communities Will South Carolina make progress on regulation of Association Governed Housing Communities in 2017? Maybe. Similar bills have been pre-filed in both the House and the Senate, by State Rep. Russell Fry and Senator Greg Hembree, respectively. According to reports, the bills will address three main consumer complaints about HOAs: Uneducated board members that don’t know what they’re doing Lack of full disclosure prior about the existence of a Continue ReadingSC bills would regulate HOAs in three ways→

FL condo owners fail to disclose sinkhole threat to tenants

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By Deborah Goonan, Independent American Communities On the heels of the many Buyer Beware stories here on IAC, this one is for tenants. I can’t tell you how many times I read these kinds of stories or hear from owners and residents that find out about major health and safety issues in their home only after they have moved into an Association-Governed Housing Community. At Manhattan Palms in West Tampa, according to ABC Action News Continue ReadingFL condo owners fail to disclose sinkhole threat to tenants→

Condo owners sue seller, Realtor, Association for nondisclosure of potential $60K assessment

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By Deborah Goonan, Independent American Communities Every day I hear or read about outrageous events in Association Governed Housing Communities. And I see the same issues over and over again. These are not “isolated incidents” as the HOA industry would have the public believe. Two very common issues I encounter: disputes over who should pay for substantial repairs to exterior elements in condominiums and failure to disclose important information to homeowners and homebuyers. A few Continue ReadingCondo owners sue seller, Realtor, Association for nondisclosure of potential $60K assessment→