Here is a list of questions that I tried to get answered when I list a home within an HOA. And when I represent a buyer I try to get these answered as well before we put an offer on the home.
- Name of the complex?
- Name of mgmt. the company, and contact information?
- How much is the HOA, and what does it include? water? gas? earthquake insurance?
maintenance? - Are there any current or upcoming assessments?
- Are there any pending/recent/upcoming major repairs expected?
- What kind of insurance coverage is there on the building? what are the limits? do
- What are the % delinquencies in for the HOA dues?
- What are the reserves?
- Is there any pending litigation?
- Is the building FHA approved?
- How many units are in the building?
- What is the ratio of owner/occupied vs. non-owner occupied units?
- Is there any one person/investor that owns more than 10% of the units?
- Do you allow pets? Type? Size?
- How many parking spots? tandem or side-by-side?
- Any storage?
- Please describe the amenities the building has (rec room, pool, spa, other)
- Please describe the amenities of the unit (updates, view, granite, wood floors, security system, other)
- Is there washer/dryer hook-ups in the unit? if not, can there be? 19. Are wood floors permitted in the unit?