Sample report — illustrative only. Fictional Colorado property used for demonstration.

Sample report — Colorado

Front Range Commons, Boulder, CO

64-unit townhome HOA, built 2003

Overall riskElevated

Master-policy hail deductibles have moved past the 5% Fannie Mae threshold, the reserve fund is 14% of recommended replacement reserves, and no construction-defect disclosure was provided. The status letter is clean but Colorado has no statutory rescission — diligence has to happen during the contractual review window.

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Key findings

Colorado-specific findings

Elevated

Master Policy Declarations, line 9 + CO Div. of Insurance bulletin

Hail deductible above 5% — may impair financing

What we found: Master policy carries a 6% hail-and-wind deductible against $18.4M of insured value — $1.1M exposure before insurance pays. Deductible was raised from 2% at the most recent renewal due to carrier requirements.
Why it matters: Deductibles above 5% can fail Fannie Mae project-eligibility criteria, narrowing the lender pool. Hail accounts for 26–54% of Colorado homeowners premiums and is the dominant master-policy driver.
What to ask: Has the lender confirmed this association is still eligible for conforming financing? What's the loss-assessment limit on my HO-6?

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Elevated

2024 Reserve Study, p. 11 + Operating Budget, line 19

Reserves at 14% of recommended — no funding plan

What we found: Most recent reserve study (2024) recommends $312,000 reserve balance against current $44,200 balance — roughly 14% funded. Budget contribution is $26,000/year; recommended is $61,000/year. No documented funding-plan timeline.
Why it matters: CCIOA does not require reserve studies or funding. Colorado HOAs commonly run reserves at 10% or less, but capital work then arrives as special assessments. Roof and siding cycles drive the next 5 years of capital exposure.
What to ask: What's the board's plan to close the funding gap? Are special assessments being modeled for upcoming capital items?

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Moderate

CCIOA Status Letter + C.R.S. 38-33.3-409(1)(c)

Construction-defect disclosure absent from status letter

What we found: Status letter is silent on construction-defect actions in the past 6 months. CCIOA requires explicit disclosure even when none exist. The omission is a procedural gap, not necessarily a substantive one.
Why it matters: Pending or threatened defect litigation is a material reading of building condition and finances. A silent status letter doesn't mean none exists — it means the question wasn't answered.
What to ask: Has the board passed or considered any resolution concerning construction-defect claims in the past 6 months? Request a written board response.

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Moderate

Estoppel-equivalent Status Letter + Delinquency Report

Six-month super-lien clean — no recurring delinquency pattern

What we found: Status letter shows the unit is current. Aggregate delinquency report shows 4 of 64 units (6%) more than 60 days past due, none in active foreclosure. No pattern of recurring liens on this unit.
Why it matters: Colorado's six-month super-lien is narrower than other UCIOA states but still primes a first mortgage for up to six months of regular dues. Recurring delinquency drives operating-budget stress.
What to ask: What's the trailing 12-month collection trend? Has the board changed its collection policy in the past year?

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