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Updated over 5 years ago on . Most recent reply presented by

Derek Smith's profile image
Derek Smith's profile image
Derek Smith
  • New to Real Estate
  • from Denver, Colorado
  • Member since Apr 9, 2014
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User Stats

108
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20
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Derek Smith's profile image
Derek Smith's profile image
Derek Smith
  • New to Real Estate
  • from Denver, Colorado
  • Member since Apr 9, 2014
Connect
Derek Smith
  • New to Real Estate
  • Denver, CO
20
Votes |
108
Posts
Tax, SDIRAs & Cost Segregation

HOA Bids/Special Assessments

Derek Smith
  • New to Real Estate
  • Denver, CO
Posted

I understand, from time to time, HOA may impose a special assessment fee to the homeowners. My HOA has just requested all the homeowners pay the HOA insurance deductible ($1,700 minimum per unit/$40k per building) to fix hail damage to the roofs. However, the HOA refuses to provide any of the bids (if there are any outside of the one they accepted). Is this legal for them to withhold bids and why they selected the repair company?

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