What questions must you ask when joining a HOA?

Also ask to see the meeting minutes for the last 4 HOA board meetings.

Ask to see the latest audited financial summary statement for the HOA. This needs to be performed by an accountant if the budget is in excess of certain amount probably depending on state law. Also when asking for HOA numbers in arrears, foreclosure,

ask what the HOA fee is currently, and how much was it last year, 2 years ago, and how much is it projected to go up. does this take into consideration foresclosed and units in HOA arrears?

As for arrears, and foreclosures, loans/promissory notes against the HOA, ask for current numbers, numbers 3 months ago, 6 months ago, and 1 year ago.

Are there any lawsuits (initiatede by or against the HOA) that are pending, open, closed (what is the judgment) and settlements.

What are all the amounts and dates and reasons of supplemental assessments issued in the last 2 years.

What are the projected assessments being discussed.

Is the HOA budget in the financially in the black? If so, does that include HOA membership dues in arrears and foreclosures? If not, then how much extra of an asessment will be charged per remaining unit?

Is there an emergency fund? Is it being depleted?

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Get these answered declarations in writing and signed by the HOA so that you can sue them in the future based on false misrepresentation which had you known otherwise, would not have gone into contract to purchase the residence.