Rental Property Investor · Las Vegas, NV · Member since 2017 · 69 posts · 16 votes
I am buying a property in an HOA. The HOA was sued and has a judgment against it for 5 million bucks. As a homeowner will I be expected to pay some if this or will my hoa fees skyrocket?
Lender · Atlanta, GA · Member since 2022 · 13 posts · 3 votes
9mo
Whoa! This happened to me a couple years ago on a condo. They rolled out higher monthly HOA fees plus a 1 time special assessment to pay off the judgement.
Investor · Clairemont, CA · Member since 2011 · 3k+ posts · 2k+ votes
9mo
What was the suit for, and what does the HOA fee structure look like for that currently? If there's already been a special assessment to pay the judgement then maybe the price reflects that. If not and they are either paying from reserves or haven't decided yet, then you should expect the future HOA fees to make those funds up.