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Can HOA board make big purchase without consent


Our developer just turned the HOA over to the home owners. The next step is to purchase the Clubhouse and Pool, Spa with all other amenities. The developer wants $12,000,000.00 for the Clubhouse. My question is, can the new Homeowners Board just go ahead and purchase the Clubhouse and take out a loan for that amount of money without input and approval of the Homeowners.

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