Yearly Archives: 2015

Escrow HOA Documents and Reserve Studies

When you enter escrow to purchase a condo you receive hundreds of pages of HOA documents. These documents contain things like, CC & R’s, Bylaws, and HOA Budget. One of the most important documents to review is the reserve study. The reserve study tells the prospective buyer if the association has saved enough money to [...]

By Brian McCaffery|2016-08-18T15:56:11+00:00February 5th, 2015|Reserve Study|Comments Off

Can Reserve Funds be used to Pay for a Component that is not Listed in your Reserve Study?

Reserve funds can only be used to pay for repair and replacement of common area components. Reserve funds can never be used to add a new component to the common area. So for example, you cannot use reserve funds to add a new playground to your HOA. But if you are replacing an old playground [...]

By Brian McCaffery|2017-02-03T17:14:57+00:00January 15th, 2015|Reserve Study|Comments Off