I live in a Colorado community which has a HOA. They have sold in excess of 75% of the homes in our community but refuse to turn over control of the HOA in accordance with the HOA rules THEY wrote and state law.
They also refuse to contribute to the reserves for future repairs as the developers owned homes are not part of the HOA. Exteriors of homes start to depreciate the day they are completed.
This will cost the HOA tens of thousands of dollars down the road. DO NOT PURCHASE FROM THIS COMPANY - THEY ONLY CARE ABOUT THEIR PROFITS.