Condos & townhomes bring a whole host of potential issues ... special assessments, unfriendly landlord HOAs, lower appreciation, tougher lending requirements, inventory glut, etc.

Last special assessment?

I'm sure the course would be rather comprehensive in the real estate matters.You'll need to be able to read and understand financial statements or get someone to detail those aspects for you.

I didn't look up the price he paid but it was assessed at $130K and I'm guessing he paid considerably less than $100K for the property, and made a decent profit after development and constuction costs.He sold all four units within two weeks, thereby reinforcing my belief that there is a market for units like these.

There is a homestead exemption that's nice and some relief from sales tax recently installed for homeowners.Worst impact has been the point of sale assessment -- killing alot of deals, especially investment/commercial transactions.

Worth area, looking at a macro assessment is nothing more than fuel for conversation, totally irrelevant to that property.

They will probably assess the situation and look at the statute and see what to modify in their view as to the best way to enforce the law and what is applicable.

Initial Offer: $20,000Seller Counter: $22,500Special Assessment: $58,000Total Cost after Assessment: $80,500Taxes: $2,200/year or $183/monthHOA: $324Rent Range: 1,200-1,400Landlord Insurance:???

Has anyone had success negotiating down a past due HOA assessment or dues balance?

I know the 3 units rent for about $1500 a month total, assessed at $53k, needs about $8-$10k in work.