Home Buying in 94080>Question Details

Colinassf, Home Buyer in 94080

buying a COLINA HOA CONDO IN SSF

Asked by Colinassf, 94080 Sun Aug 22, 2010

am interested in a condo at the Appian Way Colina complex, but I cant seem to get the details on the situation with the HOA and special assessments. I know there was ann emergency special assesment to redo the clubhouse. They say there are rumors of a large upcoming special assessment but does any realtor here have information on that? Or should I just avoid this complex entirely and look elsewhere?

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M’s answer
I am an owner of a condo at Colina and am appalled at some of the responses here. To clarify the situation, yes, there has been a special assessment by the Fire Inspectors of our club house (that's public info). Our HOA immediately sought to rectify the sitaution and all the homeowners at that time signed a document approving the special assessment in which we were allocated a span of 6 months to pay. Those units that did not provide timely payment and had a lien filed with their unit for the assessment. Therefore, in order for a deliquient owner to sell their unit, the lien must be free and cleared before sale.

Please find a broker who will do their research and not make quick judgement as to the situation at Colina Condos. I, for one, do not have a lien attached to my unit. The assessment in my opinion was very fair, and upon purchasing your unit, you may negotiate/adjust the price to lift the lien on the property.
0 votes Thank Flag Link Tue Jan 4, 2011
There are a few important considerations to your plan to buy a condo where you've already uncovered some potential issues. I have had my fill of condos with such problems, mostly as a listing agent, and as far as where you get the information is concerned, it is typically available through the Home Owner's Association, and/or the owner/occupant of the particular unit that interests you (or that person's real estate agent). If you're serious about buying, in spite of these issues, and make an offer considering the potential consequences, you are not obligated to buy if the conditions are not satisfied or complied with. For starters, knowing about assessments and getting a copy of them are two different things. If an offer for a condo is subject to securing financing, that alone will bear on the possibility. So, a contingent upon inspection, or contingent upon appraisal; or contingent upon approval by the lender of the complex, or verbiage to this end may suite you if you are seriously considering buying.

On the other hands, as my colleagues have pointed out, buying elsewhere is another possibility, or buying all cash yet another.

Happy Holidays


J. Mario Preza, CRB
home4less@msn.com
415.850.4361
DRE 00668667
0 votes Thank Flag Link Thu Dec 16, 2010
Simply put: avoid this complex. There are some other places to choose from (not many though). If any help needed, please call me at 415-722-6249 with no obligations on your side.
Web Reference: http://www.proqvest.com
0 votes Thank Flag Link Mon Aug 23, 2010
HI Colinassf,

There was a special assessment as of 1/16/09 for $1,418,000 to cure a notice of violation issued from the city of So. San Francisco Fire Prevention Division. There are no other assessments at this time, however there are no lawsuits pending but the HOA is having problems collecting delinquent HOA fees. This could cause a problem for anybody who wants to finance the purchase in that complex. All cash is the way to go if you really want to buy in that complex.
Web Reference: http://www.jefftung.net
0 votes Thank Flag Link Mon Aug 23, 2010
Just buy something else in another area. The value of these will probably go down because of the lack of HOA mgt in the area. They should have known about the clubhouse issue prior to an emergency assessment.

If you can find a another deal somewhere else, go for it.
0 votes Thank Flag Link Mon Aug 23, 2010
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