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Why was an HOA not established for Mallard Point?

hoa mallard point
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Why was an HOA not established for Mallard Point?

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Typically a developer establishes the HOA prior to the first home sale, acts as the HOA during the development phase, and then hands over control of the HOA to the homeowners once a certain number of homes are sold. However, due to the failure of the original developer the HOA was not established in Mallard Point.

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