Is Watersedge under construction or facing the usual secrecy club?

We are seeing the bright yellow siding but many home owners are wondering the cost of construction? We were told $136,000 each on the M and N building. The owners are curious how the construction breaks down since there is no paper work provided. I guess you need a membership.

RCW 64.34.372 Association records — Funds

Click on the image to zoom in. We are entitled to see records in accordance to the WA State Condo act. http://apps.leg.wa.gov/rcw/default.aspx?cite=64.34

RCW 64.34.372 http://apps.leg.wa.gov/rcw/default.aspx?cite=64.34.372

An actual Document from WEHOA 2010 annual meeting explained by the Attorney.

You are always entitled to see the records or financial information concerning your condominium in WA State

RCW 64.34.372
Association records — Funds.

(1) The association shall keep financial records sufficiently detailed to enable the association to comply with RCW 64.34.425. All financial and other records of the association, including but not limited to checks, bank records, and invoices, are the property of the association, but shall be made reasonably available for examination and copying by the manager of the association, any unit owner, or the owner's authorized agents. At least annually, the association shall prepare, or cause to be prepared, a financial statement of the association in accordance with generally accepted accounting principles. The financial statements of condominiums consisting of fifty or more units shall be audited at least annually by a certified public accountant. In the case of a condominium consisting of fewer than fifty units, an annual audit is also required but may be waived annually by unit owners other than the declarant of units to which sixty percent of the votes are allocated, excluding the votes allocated to units owned by the declarant.

(2) The funds of an association shall be kept in accounts in the name of the association and shall not be commingled with the funds of any other association, nor with the funds of any manager of the association or any other person responsible for the custody of such funds. Any reserve funds of an association shall be kept in a segregated account and any transaction affecting such funds, including the issuance of checks, shall require the signature of at least two persons who are officers or directors of the association.


[1992 c 220 § 19; 1990 c 166 § 7; 1989 c 43 § 3-119.]


Notes:
Effective date -- 1990 c 166: See note following RCW 64.34.020.

Current Real Estate sales over the last 6 months. 13216 NE Salmon Creek Ave Vancouver Wa 98686.

Condo 1 bed 1 bath 670 sq. ft. Sold $29,500

Condo 1 bed 1 bath 670 sq. ft. Sold $37,500

Condo 2 bed 2 bath 960 sq. ft. Sold $56,031

Condo 2 bed 2.1 bath 1166 sq.ft Sold $65,000

The average list price $49,900, and the average sold $47,008

RCW 64.34.328 Upkeep of condominium.

(1) Except to the extent provided by the declaration, subsection (2) of this section, or RCW 64.34.352(7), the association is responsible for maintenance, repair, and replacement of the common elements, including the limited common elements, and each unit owner is responsible for maintenance, repair, and replacement of the owner's unit. Each unit owner shall afford to the association and the other unit owners, and to their agents or employees, access through the owner's unit and limited common elements reasonably necessary for those purposes. If damage is inflicted on the common elements, or on any unit through which access is taken, the unit owner responsible for the damage, or the association if it is responsible, shall be liable for the repair thereof.

(2) In addition to the liability that a declarant as a unit owner has under this chapter, the declarant alone is liable for all expenses in connection with real property subject to development rights except that the declaration may provide that the expenses associated with the operation, maintenance, repair, and replacement of a common element that the owners have a right to use shall be paid by the association as a common expense. No other unit owner and no other portion of the condominium is subject to a claim for payment of those expenses. Unless the declaration provides otherwise, any income or proceeds from real property subject to development rights inures to the declarant.

Foreclosure Units or Pre-Foreclosure

The process as far as I can tell.

• The Banks or Lien Holder Foreclose on a Unit.
• The REO Agent, or Realtor contacts the Property Management Company.
• The REO Agent brings forth any outstanding debt so the new owner(Bank/Lien Holder) has clear Title. HOA payments and any Assessments are paid, so the Owner has Clear Title to sell the Property.
• The outstanding HOA Debt can only be brought fourth from six months back.
  
• The Foreclosed property is put up for sale by a Realtor who works for the lien holder.
• This was verified but is opinion.

With any given Assessment the area's of concern are in any Condominium are:

1. People who do not pay their HOA payment, and reside on property.
2. People who do not make Mortgage Payment let alone a HOA payment
3. People who have abandon their property.
4. When its time for a general population to pay an assessment and there are abandon properties, the majority pays, until the Lien Holder/Bank takes possession.
5. This is exactly why you MUST not have one time assessment because owners leave and the majority pays. This was not clearly represented. This has been investigated to the extent.
6. Like I told the Board of Directors Two Years ago "timing" and an "equal opportunity" is essential.
7. I am no longer going to fight this issue out with WATERSEDGE, I have made my own independent investigation, and brought it forth 2 years ago with denial from the Board of Directors.

Current issues at Watersedge

Latest: We were denied again that's really not surprising. March 30th, 2010 Denied. http://www.courts.wa.gov/appellate_trial_courts/supreme/

History in the making

http://www.courts.wa.gov/content/Briefs/A02/374153%20replies.pdf

http://www.insurancelawforum.com/waters-edge-ruling%20on%20reasonableness%20hearing.pdf

Opinion:

I hope by now the homeowners at Watersedge have come to an understanding of facts vrs no facts. The truth has come out. The so many issues were extremely complex, and bad advice is obviously the outcome of events that took place here over the years. Unfortunately it costed the Association a lot of money, and wasted time with buildings that need repairs not buildings that need to be re-built.

Preventive maintenance by maintaining the buildings in a satisfactory condition with a systematic inspection and correction of incipient failures either before they occur or before they develop into major defects. Corrective maintenance, or repairs is what should have taken place. That is how most associations operate.

When you know your right back it with facts and knowledge!
http://apps.leg.wa.gov/rcw/default.aspx?cite=64.34

The Walmart issue:
Walmart issue related to our storm drain on our site. The arguement is either it's a public easement, or privately owned by the Watersedge Association. Arguement lies between Clark County Commissioners and Walmart.
http://www.courts.wa.gov/content/Briefs/A02/382415%20respondents.pdf

The subject property lies to the North West.

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