Look at the Community as a Whole
Is it run-down? Don’t solely focus on the one property your buyer is purchasing. When the HOA is responsible for maintaining the buildings, check out neighboring units and common spaces along with the home your buyer is purchasing. Here are some telltale signs of an HOA that isn’t on top of its responsibilities:
- Are the fences rusting?
- Are the building signs in disrepair?
- Does the asphalt look like gravel?
- Are the pool and other amenities clean and in good working order?
- What is the age and condition of the roofs?
- Do the buildings need to be painted?
- Are there staircases and balconies in poor shape that the HOA is responsible for maintaining?
- When were the buildings last treated for termites? Have they been neglected, with a higher risk of unknown termite damage throughout the community?
- Are there problems with siding?
- Are there grading issues causing flooding?
- What is the condition of the gutters, fascia, and other fixtures?