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HOA initiation fee

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

A national builder built a small community with no amenitiesin GA. During the sale the builder advertised a HOA annual fee of $500 and initiation fee of $500. We all bought houses thinking that the HOA fee was low. After one year our HOA board took over and learnt that the builder had used the funds from initiation fee towards regular maintenace work and consumed all $1000 without leaving any reserves. It appears the builder knowingly put a low HOA fee to attarct buyers when in fact the fee should have been $1000. We feel cheated by the builder and looking for any ways we could take the builder to pay for the mess/
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