I think what speaker is wanting to know is if there are any lots that are delinquent in their HOA dues and if the HOA has adequate reserves for future repair and maintenance.
This info may be limited to someone who is not yet a homeowner, but there may be several ways to get at least a glimpse:
– The legal requirements of California HOAs are given in California Civil Code 1350 – 1378. Most of that is geared towards the HOA relationship with homeowners, but there is probably some good information on what the HOA is required to supply to those in escrow (I can’t remember, truthfully).
A good place to read up-to-date versions of Davis-Stirling is here:
– You may check the HOA website, if they have one. Many times, old newsletters will be shown and they may give insight into delinquencies and/or similar problems the association has. It probably will not give financial info on the website, at least not the part accessible to the general public.
– You may want to find out when the next HOA board meeting is and attend. Technically it is probably only current homeowners who are welcome, but most HOAs would probably welcome the interest and not say anything about a prospective homeowner showing up. Again, this would probably give you insight into some of the financial info by listening to the conversation, and at a minimum will let you know what the HOA is currently concerned about. Specifics about which lots are delinquent or problem areas will be done in private meetings for confidentiality purposes.
– At some point in escrow, you will probably get a copy of the latest available annual financial report,which may be months old since they are done yearly. I would look closely at how well the major components of the HOA properties are covered by reserves. Look at Cal Civil Code section 1365 for what the HOA is required to do with yearly financials, paying particular attention to 1365.5
– Finally, find out what Property Mgt Company the HOA uses and contact them directly. They may know what they can legally give you before you are a full-fledged homeowner, and what you can expect to receive from them during escrow.