StephenZ (Texas)
Posts: 13
Posts: 13
Posted:
Our section (1 of 3 sections in our neighborhood but with all different CCR'S) has been comletely finished for a few years. The developer would never respond to our requests to take over and no one wanted to chip in to get a lawyer. Now years later, we (a few very concerned owners) found out from our Management Co. that we our broke adn they are dropping us as they cannot get a hold of the developer to approve payments or address what to do with no funds to pay bills.
The Management CO. let us see the books and we see we owe $60k for a variety of reasons. We believe the Developer has mis-appropriate our funds but that is anouther story.
Current situation:
No HOA Board (which we were just going to hire a lawyer to establish)
No Management Co.
Street lights to go off soon as 3 months behind on payments.
As Developer never filed for us to be a HOA, we are unclear how to proceed. The lawyer we were going to hire does not want to get involved now that all this has come to light.
Questions:
1. What recourse do the vendors that we owe money have to get paid now that there is no Management Co?
2. Is the Developer resposible to pay these bills?
3. If we establish our own HOA, will they then sue us to get payment?
Best solution for us possibly:
One of our sections is voting to establish their own HOA with a lawyer. This should happpen mid Dec. They want to ask us to join their HOA which I believe we need a signed petetion of 60% owners to join them.
If we joined them, we they now be liable for all our debt?
The final plan is for all three sections to be one HOA.
What a way to go into the Holiday season.
All feed back is appcreciated.
The Management CO. let us see the books and we see we owe $60k for a variety of reasons. We believe the Developer has mis-appropriate our funds but that is anouther story.
Current situation:
No HOA Board (which we were just going to hire a lawyer to establish)
No Management Co.
Street lights to go off soon as 3 months behind on payments.
As Developer never filed for us to be a HOA, we are unclear how to proceed. The lawyer we were going to hire does not want to get involved now that all this has come to light.
Questions:
1. What recourse do the vendors that we owe money have to get paid now that there is no Management Co?
2. Is the Developer resposible to pay these bills?
3. If we establish our own HOA, will they then sue us to get payment?
Best solution for us possibly:
One of our sections is voting to establish their own HOA with a lawyer. This should happpen mid Dec. They want to ask us to join their HOA which I believe we need a signed petetion of 60% owners to join them.
If we joined them, we they now be liable for all our debt?
The final plan is for all three sections to be one HOA.
What a way to go into the Holiday season.
All feed back is appcreciated.