The hoa board wants to buy a unit in foreclosure for 100.00 the used hoa fund to renovate the unit. Can they do this without a vote by the homeowners

Hello a:

The answer lies in your By-Laws. But, not everything the board does requires a vote.

excon

Its possible as has been said. Check the by-laws to be sure on the vote. But the primary reason for HOA is to protect the value of surrounding properties. That is an awefully cheap price.

Interesting. I echo the sentiments of exdude & califdad. Especially cal's point of protecting the value of surrounding properties.

What would you do if the by-laws make no mention of it? Are you thinking of suing? Do you believe they have nefarious intentions?

Just as food for thought, if I was living in a complex where the board chose to do that, I would be ecstatic. A foreclosure sitting on the market for any length of time is bound to effect the value of YOUR unit. The fact that they were able to purchase the unit for $100, plan on fixing it up, and intend on selling it, shows they really are doing their job, which is, figuring out the best course of action with a foreclosure that is sitting empty in a depressed R.E. market. Whatever profit is made will go back into the operating funds. I see the result as being only a benefit for the entire community. Unless you think they plan to personally pocket the profit? Have they shown a lack of integrity in the past that it would warrant questioning their intentions here?