HOA Due Diligence
When you buy a Steamboat Springs, CO condo or other Steamboat real estate with HOA’s, you should check:
- If HOA dues and expenses are reasonable
- Are reserves collected or do they exist for future maintenance
- Is there any litigation
- Is there a broad-based board of directors, able and available
- Is there adequate management of the facilities and the funds
- Are the facilities and common elements in good condition
- Does the declarant have the right to add more land or change the plan
Thank you to J. Albert Bauer, Esq., Breckenridge