Condo & HOA Smart
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Scared Condo Dogs
We help homebuyers reduce their risk and help real estate agents look good!
Buyer Beware - Not all Surprises are Good!

Realtors - Add Value to your Client Relationships
Real Estate Golden Ticket
Condo and HOA Smart offers a NEW service, nationwide.  We perform Due Diligence on community associations, analyze its financial health and determine potential livability issues.
 Don't let your clients become upset, after they buy, when they find out about the rules, rental caps, special assessments, parking issues, etc.

Be proactive - they'll remember you for it!
 "Home, is the nicest word there is"  
Laura Ingalls Wilder

Is it a Good Thing - if your Assessments are Low?
Maybe, Maybe Not
  • Low Price Condo Dues
  • It may mean the Developer is still in control of the Association. The Developer may keep dues artificially low in order to make the units attractive and increase sales
  • The Developer may have left the Association without a Reserve Fund
  • The Board may prefer to be popular with the owners and refuse to increase dues, even if it means deferring maintenance
  • The Board may not have established a Reserve Fund. A Reserve Fund is used to save funds for future major repairs & replacements. This would include roof replacement, paving and more
  • Self-Interest by Board members
  • Due to poor cash flow (low dues, high delinquencies, etc), the Board may have depleted its Reserve Fund and used it for Operating Expenses

The above situations may require the Association to approve an assessment increase or pass a Special Assessment to pay for future major repairs & replacements.

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The Most Common Mistakes on Condo & HOA Income Tax Returns
Bank Loans for Community Associations?   Yes - it's Possible!

To obtain a bank loan, Associations must pledge assets as collateral (to secure the loans). 
  • How is this actually done?
  • What information do lenders require?  
If you're interested, you better start preparing today!

"I just wanted to say thank you very much for your help. I think I'm going to pass on this place. I would like to keep your contact information and have you review another condo financial when I find a different building. The way you broke it down and explained everything was very helpful and you really sound like you know what you're talking about."

JJ - Condo Buyer in Florida

Thank you for reading all the way down to the end!   We hope our newsletter is a valuable resource for you.  There is additional information on our website in our "resource center".   If you have any questions or if we can help you in any way, please contact us.

Gail Pizetoski

Gail Pizetoski, CPA, AMS, CMCA, RE Broker

Condo and HOA Smart Newsletter  2013-3

Quick Links

Many people assume that Condo living is
 a carefree lifestyle

Those in the industry know that is 
far from the truth
Chimp or Chump ?

Condominium owners face many issues
Glossary of

Today, more than half of homebuyers purchase a home in a Condo or Homeowners Association and more than 63 million Americans live in a community association.  
The home you choose to purchase could be perfect for you, in a great location and have seven bathrooms.  If it's located in a well-run community association with healthy financial statements, chances are you'll enjoy living there and won't have 
any problems selling.
However, if the association isn't managed well, has cash flow problems, too many rules, renters, board politics and underfunded reserves, it will affect your quality of life and possibly market value.

Let us help you reduce your risk on your investment by performing a Due Diligence Inspection on the community association 
 before you buy

Condo & HOA Smart | 800-572-2360 | |
112 South Square Row
PO Box 2230
Davidson, NC 28036

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