Bill 6215 will be effective on Jun 12, 2008 that requires condo association to have reserve studies and disclosure. Please consult your condo management company and HOA, check the annual budget and financial statement. Impact may be HOD increase for adequate reserves. That will also affect sale-ability of the community since market value of unit reflects reserves. Further information on Bill 6215 http://apps.leg.wa.gov/billinfo/summary.aspx?year=2008&bill=6215.
Filed under: Seattle, Washington, real estate | Leave a Comment
Tags: 6215, bellevue, Bill, condo, HOD, homeowners, reserve, Seattle, Senate
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