RSJ HOA lawsuit

[irvine_native_IHB]

So what happens when a 30 year old condo tract doesn't charge enough HOA fees and neglects all of the important repairs? Lawsuits and chaos! Special assessments ahoy!

Lawsuit text:

http://rsjnews.com/Complaint_portion_from_BINDEL,_et_al _v _RANCHO_SAN_JOAQUIN_HOA,_INC _et_al.pdf

Special assessment info:

http://rsjnews.com/The_Plan_to_Restore_RSJ.pdf

From rsjnews.com

Be careful of "low" HOA fees.

 

[buylowsellhigh_IHB]

Looks like they need to cut out some of the "restoration" plans.. Increase HOA, defer repairs, and do a smaller "special assessment." But definitely feels like some of the unnecessary stuff was added in. I mean geez, 80k to renovate a pool and bathrooms... i dont think all 300 families use the pool. Also makes no sense burning $$ on legal fees (attys for both sides) that will only add to the cost

 

[effenheimer_IHB]

The Internet is going to hammer sellers in these tracts. Buyers use the Google sometimes!