I want to have independent audit on condominium financials. How do I achieve that? I own one condo in the building and suspecting that financials are grossly mishandled

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Some states require that HOAs have audited financials. However that just tells you that the financials are accurate, not that the financials are being managed well. I think that some states also require that the associations records can be reviewed by any owner.

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You can also join the condo board meetings and discuss or get yourself elected

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I thought I was part of the board but got a letter saying that board made a decision but I was never there … also, the letter doesn’t have signature or stamp or anything at all

You can probably get a copy of the financials if you request it. That would tell you what they’re spending the money on, but not necessarily if it’s being sent responsibly.

This is a situation where the lack of organization is going to be a huge pain.

My suggestion to you is to push to formalize it with articles of incorporation and a formal HOA decree. Then the methods of voting and finances will be forced and formalized.

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Just sell and move. Move to a non HOA place and call it a day

It is a self imposed HOA, which is really a maintenance fee that everyone agreed to pay.. no real HOA

Contact a real estate attorney. If it’s not a real HOA and the owners just agreed to split some maintenance expenses, did you agree to that? If not, just don’t pay it. (That’s not legal advice).

MD The owners who agreed to pay, signed the letter as “condo board” decision. The condo board has 3 people in it, and two of them are as surprised as I am … Feels like money extortion and misrepresentation.

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