I just got word that one of my listings (a wonderful, 3 year old townhome style condo)
is now involved in a lawsuit; HOA vs. Builder. (This is not an uncommon situation in the Portland area and I know of several developments that are embroiled in long lawsuits with the builder.)
Though my client's property has had no such problems, the HOA is suing the builder over "defective workmanship causing water damage" in several units, and all 21 condo owners in the development are listed because they are "necessary parties"*. (*It is a new requirement under Oregon law that all HOA members join or be enjoined in a suit of this nature.)
Fortunately, my client has a law degree, and is not freaking out. She is concerned that this suit may/will have a negative effect on the timeliness of selling her property, and I concur.
I've not seen a copy of the suit yet, but will be busy reviewing it later today.
Similar experiences, anyone?
Phillip Anderson
Owner
New Portland Home
A real estate services company
(503) 789-8701
www.NewPortlandHome.com