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Re: HOA
I'll share mine, which many California inspectors are using. Note the last line, which may be the most vital part of the entire disclaimer.
Home Owners Associations:
The residential dwelling unit appeared to be part of a complex that is managed, and maintained by a "Home Owners Association." Our inspection will be limited to visual evaluation of the systems and components that are located within the dwelling unit or building inspected. The current condition of "Common Elements" such as, but not limited to; stairs, landings, porches, hallways, walks, balconies, decks, patios, pools, spas, recreational areas/equipment, elevators, utility metering, parking stalls/ports, building site condition, structural stability, drainage systems, and all common areas on the developed property will not be inspected or addressed in our written report. This also includes, but not limited to, Common Interest Developments (CIDs) and Planned Unit Developments. (PUDs) Any comments made regarding exterior components and/or common areas are made as a courtesy only and should be addressed by an officer of the “Home Owner’s Association” or their legal representative.
It is recommended that the Home Owner’s Association’s “Proforma Operating Budget” including a Reserve Study as required by California Civil Code section 1365 & 1365.5 and the Department of Real Estate be carefully reviewed. The reserve study should provide awareness as to the anticipated remaining life expectancies of the major components, systems and equipment contained and/or related to the unit and/or building(s). The budget should also include a statement of the current funds, and a funding strategy to cover future major repair and/or replacement. It is also recommended that the current property owner or their legal representative and the "Home Owners Association" be consulted regarding full disclosure of past and current defects including and corrective/replacement work performed.
Our Clients are also encouraged to thoroughly review the covenants, conditions and restrictions (CC&Rs) and Reserve Study for disclosure of pertinent facts affecting the current condition including the market value of the residential unit/building, the complex's common elements/areas, and past history or current pending legal litigation.
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