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Home COFSAB Forum Condo Owners Forum Q&A Re: A Special Assessment Reply To: Re: A Special Assessment

  • Terry

    Administrator
    June 8, 2022 at 6:27 am

    I agree with Mark. Priority one is to get the work done to prevent potential further deterioration.

    It is very difficult to go after the developer after year one. Going to court and trying to recover the funds from the developer might feel good, but would be expensive, time-consuming and may not generate ANY positive results.

    Hopefully, the Board of Directors will be transparent, sharing engineer’s reports. Next, the re-financing of the replacement reserves should be a priority. Owners should be consulted Staging special assessments over time is advisable or, if really necessary, a loan.

    Please spread the word!
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