Financial Health of Homeowners Associations

Should a potential homebuyer be concerned about the financial health of the homeowner's association in a prospective neighborhood? What is the best way to guard against walking into a potential "special assessment" situation where one might be expected to pay an abnormally large association payment at some point in the near future? Or, is this issue just so uncommon that it shouldn't be a concern to the potential homeowner?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 14 2013 - Williamsburg
We think we've answered this question for you!
 
 

Replies (1)

Yes, of course.  It may be more important than a property inspection.  

When someone buys into a Condo or Homeowners Association, they are making 2 investments.

One investment in the actual property and one investment in the business corporation of the Association.  They want both investments to be good.

That's why we provide Due Diligence of Condo & HOA Associations for potential homebuyers.  We analyze the financial health and also determine if there are any livability issues.

Visit [deleted by Zillow moderator] to download a FREE Due Diligence Checklist which will help you find some of the information yourself.  You have to know the right questions to ask!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 19 2013
 
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
Related Discussions
Financial Health of Homeowners Associations
Profile picture for Condo And HOA Smart
Latest reply by Condo And HOA Smart
February 19 2013 | 1 answers
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 315 Queensbury Ln, Williamsburg, VA Home For Sale
    315 Queensbury Ln, Williamsburg, VA 23185

     For Sale: $289,500

    • Beds: 5
    • Sqft: 2698
    • Baths: 3.0
    • Lot: 6970
  2. 117 Argall Town Ln, Williamsburg, VA Home For Sale
    117 Argall Town Ln, Williamsburg, VA 23185

     For Sale: $625,000

    • Beds: 4
    • Sqft: 3638
    • Baths: 4.0
    • Lot: 65340
  3. 106 Braddock Rd, Williamsburg, VA Home For Sale
    106 Braddock Rd, Williamsburg, VA 23185

     For Sale: $220,000

    • Beds: 5
    • Sqft: 3510
    • Baths: 3.5
    • Lot: 15681