Q: I purchased a NJ condo, they made me pay a $2,500 membership fee. My HOA dues will be $2,070 per year, is this legal?
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- New Jersey
- (973) 798-6131
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- Answered
A: Yes, it is legal, but that is why I tell all my clients to NEVER EVER purchase any real estate with an HOA, condo or coop board. A significant number of those associations are very corrupt. Good luck.
Anthony M. Avery agrees with this answer
A: The association may only charge what is set forth in the organic homeowners agreement. If it is not provided in the original agreement or in subsequently properly approved amendments,, it can not be charged.
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- New Jersey
- (718) 442-2010
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A: Yes, unfortunately, it's legal - and quite common - that a condominium collects an initial capital contribution from new buyers. Sometimes, it's based on a month or two's common charges, or it can be a flat rate - like $2,500 sounds. You said they "made you" pay that fee, but it should not have been a surprise because your attorney should have pointed this fee out to you after she reviewed the offering plan and any amendments. And if you had no attorney (I know it can go either way in Monmouth County), the seller (and/or realtor) should have provided you a copy of the master deed documents for you to review - the standard NJ realtor contract's HOA rider has language advising buyers of this.
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