HOA assessment

[hayride17]

What is the name of your state?

Indiana-

The developer of our subdivision is raising the quarterly general assessment fee by 30% as he has a revised budget showing a shortfall. My issue is that only 25 of 49 lots are sold and he is dividing the budget by 25 as he states he has no responsibility to pay any of the assessment on undeveloped lots. My position is that current lot owners should not pay more because the development is selling slower than the developer would like and he does not like covering the shortfall. Is this normal practice of a developer?

 

[HomeGuru]

What is the name of your state?

Indiana-

The developer of our subdivision is raising the quarterly general assessment fee by 30% as he has a revised budget showing a shortfall. My issue is that only 25 of 49 lots are sold and he is dividing the budget by 25 as he states he has no responsibility to pay any of the assessment on undeveloped lots. My position is that current lot owners should not pay more because the development is selling slower than the developer would like and he does not like covering the shortfall. Is this normal practice of a developer?

**A: yes it is since some developers always try to rip people off.
You should only have to pay for your pro-rata share and not the developer's share.
Fight this.