Performance Bond & HOA

[dcc4561]

Our town released developer and builder performance bonds before all work was completed. The work now has been completed. The only remaining issue is the formation of an HOA to care for common areas was never completed. Does anyone know if such performance bonds typically include the formation of HOAs?

 

[ShyCat]

What is the name of your state (only U.S. law)?

 

[HomeGuru]

Our town released developer and builder performance bonds before all work was completed. The work now has been completed. The only remaining issue is the formation of an HOA to care for common areas was never completed. Does anyone know if such performance bonds typically include the formation of HOAs?

**A: in general, performance bonds have to do with the construction work and nothing to do with the HOA. But, we have no idea as to what the language is on the bond.