My HOA situation

[audreyh1]

What does the HOA have to do with lawsuits against developers and/or construction companies? Or the construction defects for that matter? An individual homeowner would have to seek redress on their own if there weren't a larger group that could take on such a task.

Audrey

 

[Brat]

The issues aren't limited to HOAs, single family dwellings are having the same problems. There is a grief trade off- dealing with them as an individual, or with a committee.

We have just made an offer on a unit in a building built in 1959 of concrete & steel. Dated, yes, but solid as a rock. Another friend of mine just purchased a condo in a wood frame structure built in the 80s. Good, solid, building.

There are several reasons why we like seasoned buildings, one important one is that construction defects have been discovered. Life-style wise we don't like open floor plans that are in fashion today.

Most strong condo associations severely limit renters but if you can rent in a building you might buy in it is a great 'try before you buy' approach.

 

[Martha]

What does the HOA have to do with lawsuits against developers and/or construction companies? Or the construction defects for that matter? An individual homeowner would have to seek redress on their own if there weren't a larger group that could take on such a task.

Audrey

IIRC, her HOA was under-capitalized with owners not willing to allow assessments to increase. Suits cost money and if the suit isn't successful, repairs cost money.

 

[audreyh1]

Oh - thanks for the clarification. I thought she was talking about defects in new construction in general:

Since the suit started I have learned that several other newer communities have construction defect problems. And if you include those in other states, the problem is widespread in construction from the current decade.

Audrey

 

[Zoocat]

My HOA would never be able to pay for the repairs needed, even with the right assessment fees all these years. The repairs needed are extensive. My conclusion, after reading about the results of other successful HOA suits against builders, is that after arbitration and after the attorneys take their cut, the HOA is left with less than needed to do the repairs and the HOA must assess the owners to make up the difference. But , who knows? My former HOA might turn out fine. I absolutely hope so.

 

[Ronstar]

Oh - thanks for the clarification. I thought she was talking about defects in new construction in general:

Audrey

A HOA can sue for general defects - most common areas in condo developments - pools, roads, even building exteriors are actually owned by HOA's

 

[Zoocat]

Here's some info about a complex in Redmond, WA that has structural defects but the HOA cannot sue the builder because he/she has devested and moved to the caribbean. The HOA has decided to give up and urge mass default.

Redmond, WA Condo Association Votes to Mass Default | FavStocks

 

[kyounge1956]

Here's some info about a complex in Redmond, WA that has structural defects but the HOA cannot sue the builder because he/she has devested and moved to the caribbean. The HOA has decided to give up and urge mass default.

Redmond, WA Condo Association Votes to Mass Default | FavStocks

I wonder if that builder had anything to do with the McGuire Apartments.

 

[kcowan]

...the HOA cannot sue the builder because he/she has devested and moved to the caribbean.

But does the builder have any assets in the US? It may still be possible to get a default judgement and attach his assets.

 

[Brat]

For those interested in Seattle area real estate this is a great source of scuttlebutt: Seattle Bubble • local real estate news, statistics, and commentary without the sales spin.

Their counterpart in Portland doesn't have a strong leader and the Oregonian re blog (Front Porch) was just shutdown by the paper. Could it be that it started pulled back the veil a bit to much on local movers & shakers?