BOUGHT A HOME/CONDO IN A COMMUNITY ASSOCIATION?
YOU INVESTED YOUR MONEY IN A BUSINESS!
There is no argument: Your association is a corporation, meaning a business. Many people buying into these communities don't understand that. But it's easy to explain: If your association fails, so does your investment. Families lost their homes, despite paying every bill they agreed upon, because other neighbors didn't pay and the association couldn't pay the utility bills.
That means that the disclosure made to potential buyers at purchase should include a lot more warnings. See my article! But who would still buy into an association if the disclosure form contained the real facts?
