What you are seldom told, YOU ARE THE HOMEOWNERS ASSOCIATION. When you are advised by anyone “that is covered by the homeowners association. What they should be making clear is that you will be the one responsible for that item on EVERY home which is part of the homeowners association not just your own. They prefer you be confused about that. Don’t make what is likely the largest transaction in your life confused.
Because of so very much confusion and misinformation in the market place, yesterday I added this as an automatic entry item in all of our home inspection reports.
LIMITATIONS ON SCOPE OF INSPECTION FOR ALL TYPES OF CONDOMINIUMS AND HOMES INVOLVING HOMEOWNER ASSOCIATIONS: The Inspector's obligations are limited only to the condominium or single family home unit listed on the Agreement. The Inspector will not inspect any common areas of the building or site, including roofs, exterior walls, structural elements, or parking spaces assigned to the condominium or single family home unit. If the development has a pool or spa, the inspection will not include any inspection of a pool or spa. The Inspector shall not provide any advice on the adequacy of the reserves held by a homeowners' association, nor shall the Inspector provide any advice on any scheduled repairs or maintenance of the common areas of the building or site. It is recommended that you investigate the adequacy of the homeowners associations financial reserves, and anticipated repairs to common areas.
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