San Diego Housing Market News and Analysis
DRE and contract re: original Condo fees
User Forum Topic
Submitted by bzribee on January 1, 2007 - 9:58pm
My cousin, an L.A. builder, tells me that it is illegal for a builder to change the HOA fees that are on the original CCR's signed by the builder and the Department of Real Estate. In other words, when I read the CCR's for La Boheme (new complex in North Park--DR Horton), it stated that the HOA fees for my unit would be $225. When I work with the sales office and loan person, the monthly fees are $380. I was told by a sales agent that this is because "things cost more than expected".
The cuz recommends that I write the builder a NOT concillatory letter, which I should Cc to the City , The Department of Real Estate, Union-Trib, etc. Or threaten to?
He also recommended that I include my concern that the management company told me I needed proof of a $1 million dollar insurance policy in order to move in, non-negotiable, then lowered to $300,000. Again, I cannot find this anywhere in the documents I've gotten and it seemed like a power play as the agent changed the numbers. (BTW, I do have renter's insurance so I am not opposed to getting additional insurance--it was the insistence, even though my possessions are minimal and I won't be using a moving company...)
Any thoughts on the above three isssues: change in fees, change in "move-in" requirments, and should I write this letter?
Cuz says that the builders want owners and don't want complaints, especially the way the market is now.
Thanks for thoughts.
~Active forum topics~