HOA (type) Feasibility Question - non-profit corp owns road/bridge to community
Greetings,
Seller and I have come to an agreement with a property I am purchasing. "The Property" is 8 individual parcels of land, one parcecl with a cabin within a community that when asked (emailed president) question regarding HOA responded with, "Byllaws posted on web site regarding obligation for road assessments only. There is no HOA and no CCR. MIRCC is just non-profit corporation that owns pritate dirt rnmad and bridges you will need to access your new place. What you do with your property is between you and Snohomish County."
I've never purchased anything that's part of a community, HOA, or had any CC&R's. I am able to look at their meeting minutes, their P&L, etc. I see they have liabilities as loans for bridges. When I am looking at all this, what are the major items to be concerned with and reviewing? I've never liked the idea of having "something" like that govern the community; however, in this particular case I am still interested and want to close the deal, I just want to make sure I do a good feasibility review.
Suggestions on review of the non-profit corp owning roads to access would greatly be appreciated !