Many factors go into your decision to purchase a home. One of the main ones is whether or not you can find the home you want at a price that you afford. However, you will also want to consider the quality of the house and whether or not it will last for the long term. The good news is that you can find reviews about homes on Hov on the internet. These reviews will help you to make a more informed decision on which home to buy.
Mismanagement of HOA funds
When homeowners and condominium owners are involved in a community association, they are responsible for paying dues and making investments. They are also entrusted with enforcing rules and regulations for their residence. Associations must have strong internal controls to ensure that these entities are adequately governed. While the association does not have the power to prevent mismanagement, it can help identify signs early on.
Some common signs of HOA embezzlement include personal service fees, overcharging services, and diverting funds for personal use. Depending on the situation, these can take the form of cash, personal services, or both.
If you suspect your association is mismanaging funds, you can ask questions and obtain proof. Then, you may report the mismanagement to your insurance carrier or the authorities. Alternatively, you can file a civil suit. But it would be best if you never did this without first obtaining proof.
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