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Why Was It Assessed?
Example
A $5,000 assessment to fund a planned improvement is one thing.
Repeated emergency assessments caused by serious financial problems are another.
The reason behind the number tells you which situation you are in.
Who Pays?
Do not assume.
Contract terms, association documents, and closing arrangements matter.
Potential negotiations can include seller payment or price considerations, depending on the transaction.
This is exactly the kind of thing to raise with Lisa and the title and escrow professionals before you write the offer, not at the closing table.
Ask the Bigger Question
The assessment itself matters.
But so does: Why didn't reserves cover the expense?
Sometimes there is a perfectly reasonable explanation.
Sometimes it reveals a pattern worth understanding before you buy into the community.
Important
A special assessment at closing is a documented, often negotiable fact. Repeated unexplained emergency assessments are a different story. Understand which one you are dealing with.
