Ron "The Bear" Barakett

Meeting of August 16th, 2011 with Bob Teschke, my reflections……….

First of all, let me preface that I am not trying to influence anyone to vote for or against. I had some very particular issues regarding the impact on property values. That was the primary reason for having this impromptu get together.

We had a very cordial meeting, and I was very impressed with the amount of due diligence, fact finding, and plain old hard work done by the LRP committee. I had a number of questions regarding some of the details of “why don’t we put the offices in this spot” or the meeting rooms. Bob had all of the facts down pat, and excellent justification for every detail in the plan.

My concern has always focused on what happens when an owner, one of us, decides to sell his unit. Does the buyer assume the liability, or does the seller pay it off?

1.When property is sold, there it is required that a Homeowners Association Disclosure signed by the seller and receipted and signed by the buyer be executed. Without this paperwork, the Buyer is free to cancel is obligation to “close”

2.It is also clear in our Naples Area Board contract that special assessment need to be paid off by the seller

Please look at bottom of Page 17 of the FAQ  (CLICK HERE]

BOTTOM LINE:

Does this modification to the by laws change the obligations of buyer and seller? I have not seen the actual legal document, nor am I an attorney, so I cannot have an opinion just yet.

Ron@AskTheBear.com