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Updated over 5 years ago,

User Stats

108
Posts
20
Votes
Derek Smith
  • New to Real Estate
  • Denver, CO
20
Votes |
108
Posts

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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