Legal Question in Real Estate Law in Colorado

Home owners association docs

I am a first time home buyer and am under contract for a townhome. I am waiting to receive the homeowners association documents and would like to know what are the main items of concern when reviewing these documents. If you can provide any feedback re: reviewing their balance sheets as well I would greatly apprciate it. Thank you.


Asked on 7/13/00, 1:43 pm

1 Answer from Attorneys
Charles Aspinwall Charles S. Aspinwall, J.D., LLC

Re: Home owners association docs

1. Know exactly what the CAM [Common Area Maintenance] charges are on a monthly basis. These can be quite high.

2. Know how special assessments may be made by the owner's association. If a majority decides to build a swimming pool you will have to pay your share whether or not you want one.

3. Know that assessments can be charged as a lien against your property if not paid, and your unit sold to satisfy the lien should it go that far.

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Answered on 9/08/00, 6:44 pm


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