Community control of HOA

Started by LewisS • 2 replies • 1859 views

💬 Join us to post & get advice from 50,000 HOA & Condo leaders.

⚡ Takes 30 seconds

Already a member? Log in

LewisS (Georgia)
Posts: 1

Posted:

My community is scheduled to take control of the HOA from the developer who will continue to build out the remainder of the properties. We are probably going to hire an attorney and CPA to to be certain that everything is being done correctly--including the financials and money balances. Can anyone provide a list of the kind of things that we need to be concerned about as well as what to seek in a cpmpetent attorney and CPA. Thanks.

CarolR11 (Colorado)
Posts: 2,563

Posted:

How many homes, condos or town homes are in your HOA now? How many will there be eventually? What major items do you have that will need major repairs or replacement some day?

TimB4 (Tennessee)
Posts: 21,059

Posted:

Here are some links to threads about transition from developer to members:

HOA Transition from developer

What You Need to Know When the HOA Takes Over from the Developer

CAI Best Practices - Transistion

Transistion checklist

Hope this helps,

Tim

🎯 You've read this entire discussion

Join the conversation with 50,000 HOA & Condo Leaders:

✓ Ask follow-up questions
✓ Share your experience
✓ Get expert advice
✓ Access 350,000 discussions

Create Free Account →

⚡ Takes 30 seconds

Already a member? Log in here