HOA paying developer for pool (?)

Started by AlanK • 3 replies • 2057 views

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AlanK (Tennessee)
Posts: 9

Posted:

Is any HOA out there, paying the developer of the community for the amenities center (i.e. pool)?

LisaS (Illinois)
Posts: 341

Posted:

I have never heard of this before, and I am an HOA VP as well as a Realtor in an HOA laden area.

What are the circumstances (paying monthly, lump sum,etc.) and is the HOA still developer controlled or turned over to the owner HOA? Was there some sort of agreement made on this with the individual buyers? I am just really curious how this can be.

Lisa

AlanK (Tennessee)
Posts: 9

Posted:

All I know at this point is that when the developer was the HOA, he created a promisary note due to him by the HOA. It really is strange. And now he is trying to get us to pay to put in a second amenities center that was suppose to be part of another subdivision that was annexed into ours. The developer has quite the reputation for being less than honest.

JudyP1 (Florida)
Posts: 24

Posted:

It has happened in my community also. The developer sold the Clubhouse to the homeowners while the community was still under developer control. Their were a couple homeowners on the transition board but I understand they were told that if they didn't agree by voting to buy the clubhouse the developer would sell it to an outside company who could do anything they wanted and charge anything they wanted.
I hope your developer isn't on Florida's suncoast.

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