HOA Resale Package - Red Flag

[Bruce L.]

So, I picked up my HOA Resale Package today.
I then found out that the seller is suppose to pay for that per some State Law. (Nevada)

Anyhow, I was looking through the package and everything seems to be ok, but I'm really not sure what I should be looking for.

- The HOA is not currently in litigation
- Not aware of any pending litigation
- Not currently in mediation or arbitration proceedings
- The HOA does not have any judgments against it.

Not sure if this is normal or not especially now a days with all the people not paying on their mortgages, but in the balance sheet, there is a line item that says "Receivables", that total is $21K. I'm assuming most are from people defaulting. The HOA is $115 a month and has about 56 units townhouses.

Is that normal?
Is there anything else I should be concern with?

Thanks.