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All Forum Posts by: Randall E Collins

Randall E Collins has started 35 posts and replied 255 times.

Post: POA Dues and legality.

Randall E CollinsPosted
  • Specialist
  • Posts 266
  • Votes 113
Quote from @Dan H.:

There is a development near my home that the developer promised a butterfly garden, dog park, boutique fitness center, and various trails. Only a couple of the trails has been provided but the owners have been paying into the HOA at a rate that they should have the promised amenities. The city has held up the sale of the final residential unit as (poor) leverage to get the developer to provide the promised amenities. It is likely cheaper for the developer to just not sell the last property.

The home owners must pay the HOA fees even though they have not received the promised amenities. If they fail to pay, fines are added. If the home owners must does not pay for a long enough time, the home owner can lose their property.


Thanks Dan. Your situation sounds a lot like mine. Neither the HOA nor any POA should have that much power to just take a man's property when they do not do as promised. I don't know of any law or rules they must follow. We could maybe take them to court in a lawsuit. But, that's too costly and would be a gamble as well. Just a hunch on my part. Say, I can't find any documents wherein I agreed to pay POA dues upon my purchase. I assume there's still nothing I can do about it. In conclusion, it's all a rip-off. If I had done my due diligence before my purchase, I would not have made the purchase. In addition, my water bill is extremely high, which I found out about after I moved in. I'm currently paying $160.00 per month. I assume the POA receives some of that as well. Another rip-off!

Post: POA Dues and legality.

Randall E CollinsPosted
  • Specialist
  • Posts 266
  • Votes 113
Quote from @Brad Fitch:

I have an investment condo in a condo development, which has been run terribly. The board should all be in jail. Unfortunately, the best thing I can do is get my unit sold and never buy a condo again. I feel for your situation. 


 Thanks Brad. I understand your situation, doesn't sound promising. Just know you're not the first to make a bad investment. Sadly, investing is like gambling. Prayerfully, you haven't lost your money. At least you're still able to sell and can learn for the experience.

Post: POA Dues and legality.

Randall E CollinsPosted
  • Specialist
  • Posts 266
  • Votes 113

Thank you, Chris! 

I remember you from the past. When I was in the wholesale business. Due to my poor health, I had to shut down. So it's been a while since we connected. I called the mortgage company to find that the number is disconnected, I suppose they went out of business. I was very concerned as to what to do. Your advice is very much appreciated. I should have all of the documents from when I purchased the property. I know I have the deed at least. My plan was to search all of the documents to see if there was any signed agreement concerning POA dues. I cannot afford to hire an attorney. So I'm on my own on this one. Thanks again!

Post: POA Dues and legality.

Randall E CollinsPosted
  • Specialist
  • Posts 266
  • Votes 113

I purchased the land from an individual mortgage company and paid cash for the home. I honestly do not know of any closing documentation wherein I agreed to pay POA dues. Good advice, however. Possibly Monday, I should contact the mortgage company and ask. Thank you!

Post: POA Dues and legality.

Randall E CollinsPosted
  • Specialist
  • Posts 266
  • Votes 113

I currently reside in a Community in East Texas. I own the property and the home. However, I am being charged yearly POA dues simply because my property is located within the community. Allegedly, the dues are for covering the cost of road work, use of the trash compactor, swimming pool, and boat ramp. However, I do not utilize any of these, and the roads are not being repaired or cleared of trash. I do not feel like I should be required to pay any POA dues. I mean, seriously, I am paying for service not rendered. Can anyone offer me any advice? And what might be the law in this regard?

Post: Property sale proposal

Randall E CollinsPosted
  • Specialist
  • Posts 266
  • Votes 113

Currently, I have a homestead on my property so my taxes are not too high. And up-to-date. The homestead should remain in place when I'm gone because I will still be the owner. As I just mentioned to Mr. Seveney the buyer seems to know what needs to be done. All I can do is trust him, I'd say so long as he's happy I'll be alright in the end.

Post: Property sale proposal

Randall E CollinsPosted
  • Specialist
  • Posts 266
  • Votes 113
Quote from @Chris Martin:

Like Chris, very sorry to hear about your condition. 

You should have a tax person explain to you how the stepped-up basis may help your beneficiary. Legally speaking, if you have agreed to an installment sale, I'm not sure if the stepped-up basis is applicable. I don't know your adjusted basis, so maybe the estate tax burden will not be that great. 

I suggest what Chris posted. 


Post: Property sale proposal

Randall E CollinsPosted
  • Specialist
  • Posts 266
  • Votes 113

Thank you, Mr. Seveney, If my memory is correct you and I have chatted in the past. As I was a Hole-Seller, LOL. I agree, hiring a real estate attorney would be the best way. However, I survive on a limited small, fixed-income. As such hiring an attorney is out of the equation. I had hoped to do this myself because I am good at drafting contracts. Maybe I'm putting the cart before the horse by asking questions. The buyer is an experienced investor. Yesterday he mentioned that he knows someone who can draw up a contract. For now, I suppose the best I can do is hide and watch.

Post: Property sale proposal

Randall E CollinsPosted
  • Specialist
  • Posts 266
  • Votes 113
Quote from @Chris Seveney:
Quote from @Randall E Collins:

This post is directed toward professionals who know real estate in and out. I own land and a fairly new mobile home in Henderson Co. Texas. I have stage four COPD and I'm not expected to live much longer. My daughter is the sole beneficiary of all my belongings upon my death. However, I have received an offer on my property from a very good and trustworthy friend that I have agreed to accept. I have spoken with my daughter and she has agreed as well. He has proposed to pay me a certain amount towards the sale of my property until my death. If I die before receiving the full purchase amount my friend will pay my daughter the remainder. Would someone please tell me what sort of contractual agreement should I draft and or title?"

Very sorry to hear this. To answer your question, You would need to get an attorney involved and just issue a mortgage and note along with having a will that your daughter would inherit this. My recommendation would be to setup a living trust so the asset(s) do not need to go through probate. Please note though this is an asset on your estate and if you have debts those also need to be resolved/paid which could complicate things - thus why I strongly recommend an estate planning attorney and a real estate attorney.

Post: Property sale proposal

Randall E CollinsPosted
  • Specialist
  • Posts 266
  • Votes 113

This post is directed toward professionals who know real estate in and out. I own land and a fairly new mobile home in Henderson Co. Texas. I have stage four COPD and I'm not expected to live much longer. My daughter is the sole beneficiary of all my belongings upon my death. However, I have received an offer on my property from a very good and trustworthy friend that I have agreed to accept. I have spoken with my daughter and she has agreed as well. He has proposed to pay me a certain amount towards the sale of my property until my death. If I die before receiving the full purchase amount my friend will pay my daughter the remainder. Would someone please tell me what sort of contractual agreement should I draft and or title?"