One of the great risks of buying into a community with an HOA is the HOA can go broke and values will collapse, special assessments are levied (to pay for what should have been saved for over years), etc.A condo with no HOA means they're broke or found a way not to do any maintenance.

I have a single family rental home in the Albany area. 6,000 sq.ft. joisted masonry, built in 1900, assessed at $140K.

If you don't mind me asking, what factors did you assess before making your purchase?

According to the form, MGL Section 38D Chapter 59 requires that I "contribute to the establishment of fair assessments..." and basically they say i have to fill this form out or else...I have never filled one out.

Basically fannie mae, and freddie mac for that matter, assess charges to the borrower based on risk factors.

Here’s what I want to know - What are the disadvantages of reducing city assessments?

Are you perhaps confusing tax assessments with appriasals?

Jim,You are a little off in your assessment of the fair housing laws.

If your personal assessment of the risks involved preclude your continuing rental of the property we fully understand that.

Seller will pay all taxes and assessments due and payable to the date of closing.