Homeowner's Associations
Given that approximately 2 million people in Colorado belong to a homeowners association – there are 8,000 such associations active in Colorado, a low number, in my view - it is not surprising that the uneven, often poor performance by homeowners’ associations continues to make the news. A front page article of the Denver Post February 13, 2012 edition reads “HOA house may get put in order.” According to the article, the legislature is once again pondering how to make homeowners associations function more efficiently and reliably.
How to Make the First Meeting with an Attorney Productive
The initial conference with an attorney can be somewhat unproductive because neither side knows whether an attorney/client relationship will result. Whether the parties can agree to form an attorney/client relationship depends on a number of factors. How well do the parties communicate with one another?
Financing Condominiums
It has become more difficult to obtain financing for buying a condominium. Lenders are no longer limiting their due diligence to the financial strength of the prospective borrower – is she or he qualified? Instead, lenders are scrutinizing the condominium project itself. Lenders are asking questions such as what is the rent-to-own ratio? A high ratio may lead to the denial of the loan. What is the reserve for capital replacements (roof, siding, HVAC)?