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HOA Transferring to a management company

I am a member of our condo board. Recently we have decided to hire a management Company. We voted on this and the majority of members wanted it. We interviewed 2 companies and chose one.

Here is my concern: The Rep from the Company came to our meeting this past week and brought a contract. He read the contract to us, altho not completely and then asked for a start date and signatures. 5 out of 6 members signed the contract which will begin on May 1st. Please note we had met with this Rep twice before this meeting.

I believe I may have put myself at risk by not having physically read the contract myself before signing it. The contract was given to us after we signed it. I do not see any major issues with the contract and compared it to anther contract that we had been given for review ( by a different Management Company) and it seems basically in line with the other one. Fees are different, some charges are different in how they break it down by the hour and half hour but the meat and potatoes is in line with the other.

Have I made a major faux pas ? I am liable in any way for signing this without having read it myself first before signing?

Thank You.

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