DennisK (Michigan)
Posts: 4
Posts: 4
Posted:
The subdivision I am in is in the beginning stages of creating a HOA. My concern is the fact that many lots are either A) undeveloped or B) developed but not sold. According to the master plan there are to be 58 homes in the development. Right now there are over 20 homes built with about 10 homes occupied with residents.
I have a feeling that the developer wants to skirt the responsibility of the subdivision, although he owns 20+ undeveloped lots.
Is there a certain percentage of homes that needs to be occupied to make a HOA binding (and effective for that matter)
I worry that the 10 homes will be forced to bear the brunt of an entire subdivision costs just because 2 or 3 of the homes haven't like the way the developer has handled the slow sales pace of the development.
I have a feeling that the developer wants to skirt the responsibility of the subdivision, although he owns 20+ undeveloped lots.
Is there a certain percentage of homes that needs to be occupied to make a HOA binding (and effective for that matter)
I worry that the 10 homes will be forced to bear the brunt of an entire subdivision costs just because 2 or 3 of the homes haven't like the way the developer has handled the slow sales pace of the development.